Essent enters into a contract with Alstom
Alstom will modernise and expand the Claus Power Plant
Arnhem, 13 June 2008 - Today, Essent has signed a contract with Alstom regarding the modernisation and expansion of the Claus Power Plant in Maasbracht, Limburg. The contract forms part of the recently-announced investment plan, which anticipates the development of large-scale gas-fired units and wind projects.
The investments arise from Essent's strategic objectives of providing reliable, reasonably-priced and sustainable energy. To achieve this ambition, Essent wishes to further reduce the emissions per kWh and to limit the CO2 risk.
On behalf of Essent, Alstom will modernise the Claus Power Plant and will expand the total capacity from 1,280 MW to 1,920 MW. This operation will also lead to an improvement of the efficiency being achieved, from 39% to 58.5%, whilst the C02 emission shall decrease by more than 40%. It is anticipated that the new Claus Power Plant will be completed in mid 2012.
On 28 May 2008 Essent signed a contract with General Electric for the construction of a new 400-MW gas-fired unit at Moerdijk. This means that the total capacity of the Moerdijk Power Plant will increase from the current 400 MW, to 800 MW. The new unit is expected to be completed by the end of 2011.
The investments in both gas-fired power plants in total will result in an expansion of the capacity by 960 MW.
Michiel Boersma, Chairman of the Executive Board of Essent N.V., said about the collaboration with Alstom: 'I am happy that we have reached an agreement and that the contracts can be signed today. I expect that, in close collaboration and under the agreed conditions, we will effect the project and that this will lead to strengthen our relationship as business partners even more.'
As was announced earlier, Essent is also investing in the Gate LNG terminal (Maasvlakte) and it is working on the development of an LNG terminal at Eemshaven (Groningen). Essent is also working on the development of a number of wind parks.
About Essent
With an annual turnover of 7.4 billion euros in 2007, Essent is the largest energy company in The Netherlands. Essent supplies electricity, gas and heating to domestic and business customers. Essent is active throughout the entire energy chain: from the production of energy up to and including supply to end users. The corporation views the Netherlands as its home market, but has now also built up a considerable market position in Germany and is doing so increasingly in Belgium. The corporation's environmental branch processes waste into energy and residual currents. Essent employs approximately 11,000 people.