Atel acquires option on land for construction of a gas-fired combined-cycle power station in Germany

At the beginning of December 2008, Atel Holding Ltd (Atel Group) acquired an option on land for construction of a gas-fired combined-cycle power station near Berlin. The former industrial site of Premnitz offers good conditions for the power station's operation. As a next step, Atel intends to obtain the requisite operating permits.

Site with good infrastructure near Berlin

Via its German subsidiary Atel Havelland GmbH, Olten-based energy services provider Atel Holding Ltd (Atel Group) has acquired an option on land for construction of a gas-fired combined-cycle power station in the industrial zone of the city of Premnitz, 70 kilometers west of Berlin. Atel signed the purchase agreements for the approximately 70,000 square meter plot at the beginning of December 2008. The parties have agreed not to disclose the terms.

Next step: Apply for permits Atel intends to apply to the responsible authorities in Brandenburg Land for the requisite construction and operating permits. Once all the requirements have been fulfilled, the Atel plant could be up and running after a construction period of three to five years. The power station will allow Atel to further expand electricity sales in Germany and, in future, to draw on its own power station reserves.

Premnitz is an ideal location The former industrial zone of Premnitz offers ideal conditions for the operation of a gas-fired combined-cycle power station, since the nearby 380-kV high-voltage line can be used to feed electricity into the grid. Atel will also be able to use a high-pressure gas pipeline with transfer station, located on the periphery of the industrial zone, to transport gas to the power station. Since the region around Premnitz has high investment requirements, the local authorities and population are in favour of the project.

Atel Holding Ltd Corporate Communications