$150m Agreement for 200MW
Temporary Power in Bangladesh
20 April 2010 -
Aggreko plc, the global leader in the provision of
temporary power and temperature control
services, has signed an agreement with the Bangladesh
Power Development Board (BPDP) for the provision of 200MW of
temporary power. The agreement has an estimated value of USD 150
million over three years and will become effective as a contract
following customary procedures and approvals.
Bangladesh has
recently been affected by power shortages caused by increased
industrial and domestic demand. Although the Government has
embarked on an ambitious program to increase the capacity of the
national grid, power demand is now exceeding supply, with the
result that widespread power cuts are inhibiting economic
development.
In order to bridge
the immediate gap between power supply and demand, Aggreko will
provide turn-key power packages to BPDP, which will feed power
directly into substations connected to the national grid.
100 MW of
temporary power will be provided at 132 kV, with the other half
provided at 33 kV. All aspects of the power packages, from design,
mobilisation and commissioning to operation and maintenance, will
be provided by Aggreko.
The first tranche
of power will be operational on July 1, with the entire project
scheduled to be commissioned in August 2010.
The award of this
contract is in addition to the 40 MW that Aggreko has been
operating since October 2008 at its highly successful plant near
Khulna.
Rupert
Soames, Chief Executive of Aggreko, said: “Building upon
our previous successful performance in Bangladesh, I am very
pleased that Aggreko will expand its relationship with BPDP through
this most recent contract. Ensuring that industrial, agricultural
and domestic users have a reliable power supply is vital to any
economy, which is why Aggreko’s fast-track power provision is an
excellent solution for BPDP.
This 200 MW,
plant, to be delivered within a few months, will have a noticeable
impact on the quality of power supply in the country, allowing the
authorities to focus on the implementation of permanent power
infrastructure.”
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Editor’s
Notes
Aggreko plc is the
world leader in the supply of
temporary power and
temperature control solutions. We employ over
4,000 people operating from over 133 locations. In 2009 we served
customers in over 100 countries, and had revenues of approximately
£1,023m. 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 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 120 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 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 Beijing 2008 Olympics, the Vancouver 2010 Winter
Olympics, and the power utilities in over 50 countries including
the UK, France, Angola,
Kenya, Indonesia, Bangladesh, Venezuela, Chile, Brazil and the
USA.