Atel acquires gas-fired combined-cycle power plant in Germany
56-MW plant to generate electricity from 2009
Expanding electricity sales further, supported by own production capacities
Atel has acquired a gas-fired combined-cycle power plant in Germany with an electrical capacity of 56 Megawatts. The relevant contracts, which had been subject to board approval, were signed in Dresden on 19 June 2008 between the Swiss energy supplier and the seller, Sustec Schwarze Pumpe GmbH, a member of the Swiss Sustec Beteiligungs Group. The parties have agreed not to disclose the terms and conditions. Acquisition of the power plant will allow Atel to further expand electricity sales in Germany, where it can now also draw on its own power plant reserves.
One-year conversion period / electricity generation from mid-2009
The combined gas and steam turbine power plant was built in 1996, and between 1997 and 2007 was used for electricity and steam generation by processing locally-generated synthesis gas (syngas) in the gas turbine. Sustec Schwarze Pumpe GmbH discontinued production of syngas in 2007 and shut down the power plant temporarily. Following the sale to Atel and roughly one year of conversion and retrofitting work, the plant will be ready to generate electricity again from mid-2009. The gas turbine, steam turbine, boiler, burner and measuring/control systems are to be modernised and converted for eco-friendly natural gas.
Alpiq Holding Ltd.
Atel Holding Ltd (Atel Group) is Switzerland's leading energy provider, active throughout Europe. Founded in 1894, Atel focuses on the two core businesses of production-based energy trading and energy services. The group of companies, domiciled in Olten, currently employs a staff of around 9,000 and generated revenue of CHF 13.5 billion in 2007. The main markets for the Energy segment are Switzerland, Italy, Germany, France and countries in Central and Eastern Europe. Products and services range from portfolio management and group energy supplies to energy derivatives, option contracts and the establishment of distribution concepts based on partnerships. Trading and sales are supported by a number of proprietary hydraulic and thermal power stations in Switzerland, Italy, Hungary, Norway and the Czech Republic as well as an extensive transmission grid in Switzerland. With its Energy Services segment, Atel delivers all the technical services related to energy (electricity, gas, oil, and biomass) and its applications (power, light, cooling and heating, communications and security). Atel is among the leading providers of energy services in Switzerland and Germany. Since the end of 2007 the Atel Group has also included the former Motor-Columbus Group.