Temporary power provider Aggreko (LSE: AGK) has signed a contract with the national utility company of Côte d'Ivoire to provide 70 MW (megawatt) of temporary power fuelled by natural gas worth some €35 million, making it its largest gas fuelled project to date.
The gas will support the country’s national grid for the next two years.
The deal, which is Aggreko’s first in Cote d’Ivoire, is expected to help alleviate power cuts and stabilise the national power grid, following recent plant breakdowns. As the requirement is urgent, Aggreko will begin mobilizing equipment to the country as soon as it receives contractual guarantees and protection, expecting to have the power plant operational in May.
The company started investing in gas-fuelled power generation four years ago and currently has 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,” said chief executive of Aggreko Rupert Soames.
Aggreko is currently supplying over 1,000 MW of power across 17 countries in Africa.
http://www.proactiveinvestors.co.uk/companies/news/14921/aggreko-wins-35-mln-deal-from-cote-divoire-utility-company-14921.html
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