$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.