26th March 2010
Aggreko plc, the global leader in the provision of temporary power and temperature control services, has signed a contract with the national utility company of Côte d’Ivoire to provide 70 MW of temporary power fuelled by natural gas to support the country’s national grid for the next two years. The estimated value of the contract is around €35 million.
Largest ever gas-fuelled temporary power contract
The contract, awarded by the Société de Gestion du Patrimoine du Secteur de l'Electricité (SOGEPE) and the Société d'Opération Ivoirienne d'Electricité (SOPIE), will help alleviate power cuts and stabilise the national power grid, following recent plant breakdowns. Given the urgency of the requirement, Aggreko will begin mobilising equipment to Côte d’Ivoire as soon as the usual contractual protections and guarantees have been put in place, and expects to have the power plant operational in May. Once commissioned, the plant will run continuously, providing power to the national grid on a 24 x 7 basis.
This is the first contract Aggreko has been awarded in Côte d’Ivoire, and will be Aggreko’s largest gas-fuelled power project.
Aggreko has over a decade of experience providing temporary power in Africa, where it is currently supplying over 1,000 MW of power across 17 countries.
Rupert Soames, Chief Executive of Aggreko, said: “Four years ago we started investing in gas-fuelled power generation and we now have a fleet of over 250 MW. Gas is a cleaner, and often cheaper, fuel than diesel, but historically gas plants have taken many months to construct. Due to our investment in designing and packaging standardised power plants, we are proving that it is possible to provide cost-effective utility-scale gas power solutions in a matter of weeks.”
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 http://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.