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2014

Globeleq's Azito Power Plant Construction on Schedule

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LONDON, Nov. 21, 2013 /PRNewswire/ -- Globeleq, the leading independent power company in Africa, indicated that construction for the 139 MW expansion of its existing 288 MW Azito gas-to-power plant near Abidjan, Cote d'Ivoire continues to remain on schedule.

(Logo: http://photos.prnewswire.com/prnh/20040611/DAF004LOGO)

Commercial operation of the additional capacity is expected in early 2015 as agreed with all parties during financial close in February 2013.  On-site major works include the placing of nearly 330 foundation piles in preparation for construction of the major equipment and other buildings for the new area. The new steam turbine and electric generator are presently being manufactured and will be transported to site by the middle of 2014. Foundations are being prepared for the two heat recovery boilers that will provide the steam supply for the new steam turbine.

The combined cycle technology being installed at the plant uses waste heat from the existing gas turbine exhausts to produce steam used to drive the new steam turbine generator.  It will not require any additional fuel to increase the capacity.  Once operational, the additional electricity will be sold to the State through a 20 year concession, making Azito one of the largest and most efficient thermal generation facilities in the country.

The EPC contractor, Hyundai Engineering & Construction, currently employs more than 200 local workers for various construction activities, with more than 800 direct jobs expected to be created during the entire construction period.

"We are really excited at the progress being made at Azito," acknowledged Jake McConnell, Globeleq's Vice President for Engineering and Construction. "There has been excellent co-operation and support for this project and we are fully aware how important the successful completion of the expansion is to the country.  We are committed to ensure the facility will be generating 420 MW of reliable electricity in 2015."

EDITOR'S NOTES:
About Globeleq
With assets currently in excess of $1.3 billion (USD), Globeleq is an independent power industry leader in the emerging markets, with a specific focus on Africa and the Americas.  Since 2002, the company has participated in nearly 14,000 MW of generation in more than 25 countries, developing economically sustainable projects that support the continued development of the electric power sector in its target regions. For more information go to www.globeleq.com

SOURCE Globeleq



RELATED LINKS
http://www.globeleq.com

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