About us
Elecgas | Project
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The Project includes the design, construction, commissioning, operation and ownership of a 2x418 MW (net) combined cycle gas turbine (CCGT) power station at Pego, in central Portugal, near Abrantes. The site is wholly contained within the ring fence of an existing 2x300 MW coal-fired power station owned by Tejo Energia (TE). The CCGT Plant is installed beside the existing coal-fired Unit 2, on the area originally earmarked for the coal-fired Units 3&4. The plant consists of two single shaft trains, each using a benson type HRSG. The CCGT Plant shares some common facilities with the coal-fired power station, such as site access and security, fire fighting plant, some environmental monitoring plant, auxiliary boiler plant, raw water supply, demineralised water plant, water and waste water treatment plants, etc. The total project cost is estimated to be €580 million (£443 million), which was funded by a mix of debt and equity in an 85:15 ratio. The mandated lead arrangers for this financing are Banco Espirito Santo de Investimento, Banco Millennium BCP Investimento, Banco Santander Totta, Caixa Banco de Investimento, Caja Madrid and The Royal Bank of Scotland. The Elecgas greenfield development project is fully operational since March 2011. The facility was constructed by a consortium led by Siemens under a turnkey EPC contract utilising the SGT5-4000F turbines in combined cycle mode with a targeted efficiency rating of 58%. Fuel (natural gas) is supplied by Endesa and the entire output of the new plant is sold to Endesa Generacion S.A., a subsidiary of Endesa, under the 25 year tolling agreement contract. The power station has been designed to minimise noise and atmospheric pollution. Precision monitoring of emissions, noise levels and air quality are carried out regularly. |