(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.”
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.