Atel acquires gas-fired combined-cycle power plant in Germany

Atel Holding Ltd has gained its first production capacities in Germany by acquiring the Spreetal power plant. The contracts for the gas-fired combined-cycle power plant with an electrical capacity of 56 Megawatts were signed in Dresden in June 2008. The power plant, situated in the Sustec Spreetal industry park near Cottbus, will be converted within the space of one year and is scheduled to start generating electricity from the summer of 2009.

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.

Atel Holding Ltd Corporate Communications