Eneco and International Power establish a joint venture for the construction of an 840MW gas-fuelled power plant. Enecogen will be located on the Stenenterrein at the Pistoolhaven in the Europoort area of Rotterdam.
Eneco Energie and International Power today signed the contracts that will lead to the foundation of Enecogen V.O.F.
Enecogen V.O.F. is a joint venture between Eneco and International Power which is formed especially for the construction of a new gas-fuelled electricity plant. The formation of this joint venture is an important step in the development of the project.
Eneco Energie and International Power
Eneco Energie is a service organisation specialised in the supply of gas, electricity and heat to approximately 4 million Dutch citizens. Strengthening its position on the electricity market by increasing its own electricity production is an important strategic focal point for Eneco Energie.
International Power is a multinational power generator with interests in 37 power plants in 18 countries. The company is active in five regions: North America, Europe, Middle East, Australia and Asia. In Europe, the most important region for International Power, the company owns and operates plants with a total capacity of 8,000 MW. The European region is core to the future growth strategy of International Power.
Tender
The technical design of Enecogen is at an advanced stage. The European tender procedure for the building contract started early this year and suppliers will soon be asked to submit a proposal.
Environmental impact report
The environmental impact report for Enecogen was completed at the beginning of May 2006. The environmental permit and cooling water permits were applied for at the end of 2005. It is expected that ENECOGEN will be granted these permits in the summer of 2006.
Integration
The Europoort area offers good possibilities for the supply of residual heat to surrounding industries, which increases the efficiency of the plant and makes it possible to reduce the CO2 emission. Especially integration by means of heat supply with the Liongas LGN terminal, which will be built right next to Enecogen, can lead to an important synergy advantage. The combination of a gas-fuelled power plant and an LGN terminal is a proven successful concept, with which both companies can obtain a significant competitive advantage.
It is expected that an investment decision with regard to the construction of the Enecogen plant can be made by the end of 2006. Subsequently, the construction of the plant can be started in the first quarter of 2007. According to planning, the plant should be operational at the beginning of 2009. The construction of the plant is expected to involve a total expenditure of over 400 million euro .