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Contract Win

19th Dec 2011 07:00

RNS Number : 1988U
Aggreko PLC
19 December 2011
 



 

 

19 December 2011

 

AGGREKO CONVERTS BANGLADESH POWER PLANT TO GAS

 

Dhaka, Bangladesh - Aggreko, the world leader in the provision of temporary power and temperature control services, working with the Bangladesh Power Development Board (BPDB), has agreed to exchange the existing 145 MW diesel-fuelled temporary power plant at Ghorashal for one which will run on natural gas. As part of the agreement, the contract term will be extended to 2015, and its value increased by some $100 million.

 

By switching the plant's fuel supply from imported diesel to locally-sourced natural gas, the BPDB will be able to reduce the overall cost of energy production from the plant by over 60%. The opportunity to transition the fuel supply to natural gas at the Ghorashal plant arose as a result of the de-commissioning of an existing gas fuelled turbine located at the site which had reached the end of its operating life. The project will see the entire fleet of existing generators at Ghorashal replaced with gas units and is scheduled for completion within the second quarter of 2012.

 

"Our management team and engineers recognised the significant cost savings which could be achieved by changing the plant's power supply to natural gas," commented Engr. A.S.M. Alamgir Kabir, the Chairman of the BPDB. "Aggreko responded quickly to our request with a solution that would not only ensure the quality and reliability of the power supply from Ghorashal, but would also deliver significant cost savings in the energy produced at the site."

 

Rupert Soames, the Chief Executive Officer (CEO) of Aggreko Plc commented: "This is a win-win-win, with the BPDB achieving significant reductions in its energy costs, the Bangladesh economy becoming less dependent on imported fuel, and Aggreko increasing its revenues from this important project. By the time Ghorashal is converted to gas, we expect to have over 650 MW of gas-fuelled power on rent world-wide."

 

- Ends -

 

Enquiries to:

 

Simon Lyons, Global Director of Marketing & Communication, Aggreko Plc

Tel: + 44 141 225 5900

E-mail: [email protected]

 

Neil Bennett / Tom Eckersley

Maitland

Tel: 020 7379 5151

 

Editor's Notes

 

Aggreko plc is the world leader in the supply of temporary power and temperature control solutions. Aggreko employs over 3,800 people operating from 148 locations. In 2010 we served customers in about 100 countries, and had revenues of approximately GBP 1.2bn (USD 1.9bn or Euros 1.4bn). Aggreko plc is listed on the London Stock Exchange (AGK.L), is a member of the FTSE-100 index, and is headquartered in Scotland. For more information, please visit the company website at www.aggreko.com

 

Aggreko provides power and temperature control solutions to customers who need them either very quickly, or for a short or indeterminate length of time. Examples would be the supply of power to an industrial site which needs to service its permanent power supply, supplying a whole city in times of power shortage, or providing a major sporting event with power and cooling systems. We serve our customers either through our 148 service centres, which we call the Local Business, or globally through our International Power Projects business.

 

In the Local Business, which accounts for about half of our revenues, we hire our equipment to customers, who then operate it for themselves, although we retain responsibility for servicing and maintaining it. In the International Power Projects business, which also accounts for about half of our revenues, we operate as a power producer. We install and operate power plants and we charge our customers both for providing the generating capacity, and for the electricity we produce. We design and manufacture equipment specifically for these requirements in our factory in Dumbarton, Scotland.

 

Recent customers include the 2008 Beijing Olympic Games, the Vancouver 2010 Olympic Winter Gamesand the power utilities in over 50 countries including the UK, France, Angola, Kenya, Indonesia, Bangladesh, Venezuela, Chile, Brazil and the USA.

 

In 2010 we fulfilled almost 40,000 customers' assignments and when researched, 68% of them gave us a recommendation of 9 or 10 out of 10.

 

For more information, please visit the company website at: www.aggreko.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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