Czech power station ECKG

Energy company Aare-Tessin Ltd. for Electricity (Atel) has closed the deal previously announced in September 2002 to acquire a 44.5pc stake in Czech power station ECKG. The change of ownership went through on 9 January 2003.

Atel has acquired a 44.5pc stake of the ECKG power station complex in Kladno, Czech Republic, from NRG Energy Inc. ECKG consists of three power generating stations of 343 MW electrical capacity and 173 MW thermal capacity and employs a total of 300 people.

The deal is part of Atel's expansion into central and eastern Europe. Atel and NRG Energy Inc. signed the acquisition agreement on 10 September 2002. After having received all approvals by the authorities and project lenders, the closing and subsequent transfer of property was effective on 9 January 2003.

Aare-Tessin Ltd. for Electricity Corporate Communications