International Power, Ansaldo Energia Sign Second Agreement to Develop Power Plants in Italy
(London, 18 April 2001) International Power announces a second agreement with Ansaldo Energia to co-develop up to 4,000 megawatts (MW) of new combined cycle gas turbine (CCGT) power plants in southern Italy. Under the agreement International Power and Ansaldo Energia will together develop five greenfield sites of 800 MW each. Of the five three are located near Naples and two in Calabria.
This agreement complements the previously reported agreement signed by the two companies on 19 March 2001 to co-develop greenfield CCGT sites in northern Italy with a total potential of 3,200 MW.
Under both agreements, the proposed project locations have several inherent advantages, including: substantial support from the local communities, good access to gas supply facilities and relatively easy access to Italy’s electric grid. In addition the proposed sites are in areas with strong electric demand growth and increasingly constrained installed generating capacity.
"As we look at Italy’s aging fleet of oil-fired power plants, and relatively high electric demand growth and wholesale prices, we expect our new CCGTs to create significant economic benefits throughout the country," said Peter Giller, International Power’s Chief Executive Officer. "We look forward to helping Italy meet its future electricity needs," he added.
Media contact:
(Europe)
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Aarti Singhal
44-207-320-8681 |
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Investor contact:
(Europe)
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Grant Jones
44-207-320-8619 |
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Media/Investor contact:
United States)
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Paul Parshley
1-508-922-3124 |
Notes to editors
The first agreement with Ansaldo Energia announced last month was for three sites located in the Piemonte, Veneto and Emilia Romagna regions of northern Italy.
International Power is one of the world’s largest independent electric generating companies with over 8,500 MW (net) in operation, 3,000 MW (net) under construction and approximately 8,000 MW (net) in advanced development. Among the countries where International Power has operating facilities are Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Spain, Turkey, Malaysia, Pakistan, and Thailand. International Power was created from the demerger of National Power, and its shares began trading independently on the London Stock Exchange and as ADRs on the New York Stock Exchange on 2 October 2000. The ticker symbol on both stock exchanges is "IPR".