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Released October 31, 2013 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) - Ireland's state-owned utility, Electricity Supply Board (ESB) (Dublin), is planning to sell two power stations as part of efforts to raise 400 million ($550 million) for the state.
In its latest financial statement the company confirmed that it will sell Lough Ree Power Station and West Offaly Power Station which have a combined generating capacity of 250-megawatts (MW). Both are peat burning power plants that went into operation within the last decade.
Lough Ree Power Station is located on the east bank of the River Shannon in County Longford, and comprises a single boiler/turbine unit with an electrical output of 100 MW. It was commissioned in 2004. West Offaly Power Station is located on the east bank of the River Shannon at Shannonbridge in County Offaly. It comprises a single boiler/turbine unit with an electrical output of 150 MW. West Offaly Power was commissioned in early 2005.
The sale is part of ESB's strategy to dispose of non-strategic assets.
"ESB will be proposing to prospective buyers an arrangement under which it continues to operate and maintain the Peat Stations with existing staff, the company stated. "West Offaly Power and Lough Ree Power have and will continue to play a major role in the electricity industry, contributing to security of supply. It is expected that advisors will be appointed in the coming weeks and that the sale process will conclude mid 2014."
The company previously announced that it was planning to sell its shares in international tolling plants, Marchwood Power plant in the U.K. and Bizkaia Energia SL in Spain. ESB owns a 50% stake in Marchwood Power, an 840 MW power station near Southampton in England which commenced construction in 2007 and entered commercial operations in late 2009. . For additional information, see related January 31, 2010, article - Marchwood Power Station Near Southampton Opens for Business.
The company confirmed this week that it has selected 'a major European insurance company' as preferred bidder for Marchwood Power Limited and that the sale is expected to close within the next two months.
ESB will also sell its share in Bizkaia Energia SL, a 755 MW power station in Amorebieta in Northern Spain. Owned jointly with Osaka Gas of Japan, it was the first internationally-owned Independent Power Producer (IPP) in Spain, and has been in operation since 2005. The sale process is expected to continue into 2014.
View Plant Details - 1058163 1058165
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
In its latest financial statement the company confirmed that it will sell Lough Ree Power Station and West Offaly Power Station which have a combined generating capacity of 250-megawatts (MW). Both are peat burning power plants that went into operation within the last decade.
Lough Ree Power Station is located on the east bank of the River Shannon in County Longford, and comprises a single boiler/turbine unit with an electrical output of 100 MW. It was commissioned in 2004. West Offaly Power Station is located on the east bank of the River Shannon at Shannonbridge in County Offaly. It comprises a single boiler/turbine unit with an electrical output of 150 MW. West Offaly Power was commissioned in early 2005.
The sale is part of ESB's strategy to dispose of non-strategic assets.
"ESB will be proposing to prospective buyers an arrangement under which it continues to operate and maintain the Peat Stations with existing staff, the company stated. "West Offaly Power and Lough Ree Power have and will continue to play a major role in the electricity industry, contributing to security of supply. It is expected that advisors will be appointed in the coming weeks and that the sale process will conclude mid 2014."
The company previously announced that it was planning to sell its shares in international tolling plants, Marchwood Power plant in the U.K. and Bizkaia Energia SL in Spain. ESB owns a 50% stake in Marchwood Power, an 840 MW power station near Southampton in England which commenced construction in 2007 and entered commercial operations in late 2009. . For additional information, see related January 31, 2010, article - Marchwood Power Station Near Southampton Opens for Business.
The company confirmed this week that it has selected 'a major European insurance company' as preferred bidder for Marchwood Power Limited and that the sale is expected to close within the next two months.
ESB will also sell its share in Bizkaia Energia SL, a 755 MW power station in Amorebieta in Northern Spain. Owned jointly with Osaka Gas of Japan, it was the first internationally-owned Independent Power Producer (IPP) in Spain, and has been in operation since 2005. The sale process is expected to continue into 2014.
View Plant Details - 1058163 1058165
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
