Iberdrola Ingenieria Begins Construction Of 440MW Combined Cycle Plant in Lithuania, Iberdrola
Release Date: 2009-05-19
Plant to be located in Elektranai, 40 kilometres from Vilnius
The plant’s foundation stone was laid today at a ceremony attended by the President of the Republic of Lithuania, Valdas Adamkus, and by the chairman of IBERDROLA Ingeniería y Construcción, Ramón de Miguel.
IBERDROLA Ingeniería, which this year launched a similar plant in Latvia, has become a key operator in the modernisation of Baltic countries’ power generation assets.
IBERDROLA Ingeniería y Construcción has begun work to build a 440 MW combined cycle power plant in Lithuania, which is scheduled to be operational by 2012. The work began today with the laying of the new plant’s foundation stone during a ceremony which was attended by the President of the Republic of Lithuania, Valdas Adamkus, and by Ramón de Miguel, Chairman of the IBERDROLA Group’s engineering subsidiary.
The event was also attended by the Lithuanian Minister for Energy, Arvydas Sekmokas, and by Pranas Noreika, the CEO of Lietuvos Elektrine AB, the public company that will be the plant’s future owner. Spain’s Ambassador to Lithuania, José Luis Solano Gadea, and IBERDROLA Ingeniería’s regional power generation manager, Javier García Laza, also attended.
The plant is located in the city of Elektranai, 40 kilometres from Vilnius. It will be an innovative facility, strategic for Lithuania, guaranteeing security of supply. The country is currently in the process of upgrading its generation facilities following the closure at the end of last year of the 3,000 MW Ignalina nuclear plant.
The IBERDROLA Group subsidiary, which is now one of the world’s leading energy engineering companies, won this project, worth €330 million, in an international tender process in competition with Germany’s Siemens, France’s Alstom and Canada’s SNC Lavalin. This contract is, furthermore, the largest ever funded by the European Bank for Reconstruction and Development (EBRD) to be obtained by a Spanish company.
Winning this new contract has positioned IBERDROLA Ingeniería as a key operator in modernising Baltic countries’ power generation plants. Another combined cycle power plant with installed capacity of 420 MW was inaugurated in Latvia on 6 May in a ceremony presided over by the King of Spain, HM Juan Carlos I.
Combined cycle power plants across the globe
The plant under construction in Lithuania and the one recently opened in Latvia are the latest of a series of power plants being developed by IBERDROLA Ingeniería in various countries around the world: Ekaterinburg in Russia, Mesaieed in Qatar, Fujairah in the United Arab Emirates, Koudiet in Algeria, and Kuraymat in Egypt. The Egyptian plant will be the world’s first hybrid plant using both gas and solar energy to generate power.
Winning this contract is further proof of the company’s technological and logistical excellence. IBERDROLA Ingeniería has become the group’s technology cornerstone, a differentiating factor that has put the company at the cutting edge of the international energy sector.
Created in 1995 to group together and strengthen IBERDROLA's engineering and construction activities, the subsidiary has seen enormous changes over the last five years: its workforce has soared by 250% to 2,400; output has increased 4.5 times; the company's project pipeline has quadrupled and its current EBITDA is 3.2 times greater than when it was set up.
The company currently has projects in 25 countries and subsidiaries in 15, driving development as it opens new markets, while clearly demonstrating the key role of international expansion in IBERDROLA's strategy. In fact, contracts outside Spain accounted for 90% of its €2.3 billion project pipeline at close of 2008.
Furthermore, the company no longer provides services only to IBERDROLA and its subsidiaries; today around 80% of sales are to non-group companies.
| Type: | NORMAL |
| Company: | Iberdrola |
| Country: | Spain |
| Url: | http://www.iberdrola.es/webibd/corporativa/iberdrola?IDPAG=ENMODULOPRENSA&URLPAG=/gc/prod/en/comunicacion/notasprensa/090519_NP_01_CCLituania.html&WT.rss_a=IBERDROLA_INGENIERIA_BEGINS_CONSTRUCTION_OF_ |