NAES Corporation to Operate Power Plant in Singapore

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NAES Corporation, a broad-based provider of services to the energy industry, has executed an operations and maintenance (O&M) agreement for a 400-megawatt (MW) combined-cycle power plant being constructed in Tuas, in the west of Singapore. Owned by Tuaspring Pte Ltd, a wholly owned subsidiary of Hyflux Ltd, the power plant is located adjacent to a seawater desalination facility also being constructed by Tuaspring Pte Ltd. The power plant will provide energy to the Tuaspring Desalination Plant, with excess power to be sold commercially in the National Electricity Market of Singapore.

"We are building a strong legacy of combined-cycle experience, and we are going to be applying the proven processes and programs that promote safety, compliance, performance, and cost effectiveness, for which we are well known," said John Brewster, NAES President and CEO.

"NAES brings an extensive track record at operating CCGTs in competitive electricity markets. We are pleased to have NAES as our power plant O&M partner for our Tuaspring desalination project," said Ms. Olivia Lum, the executive chairman and group CEO of Hyflux.

Hyflux is one of the world's leading fully integrated water solutions companies, with operations and projects in Southeast Asia, China, India, the Middle East and North Africa. Hyflux is committed to providing cost-effective and sustainable solutions in seawater desalination, water recycling, wastewater treatment, including membrane bioreactor (MBR) and potable water treatment. Hyflux's track record includes Singapore's first water recycling plant and first seawater reverse osmosis (SWRO) desalination plant, and China's largest SWRO desalination plant in Tianjin City. The company is developing the world's largest SWRO desalination plant in Magtaa, Algeria, as well as Singapore's second SWRO desalination plant on a design, build, own and operate basis. Hyflux is listed on the Singapore Exchange.

Headquartered in Issaquah, Washington, NAES is the world's leading provider of comprehensive services to industries that generate or consume power. For more than 30 years, NAES has specialized in providing services centered on safe, reliable and cost-effective performance, including operations and maintenance; construction, retrofit and maintenance services; on-site turbine inspection/overhaul services; staffing solutions; and customized services designed to improve plant and personnel effectiveness.

NAES is owned by ITOCHU International Inc., the U.S. affiliate of ITOCHU Corporation. With operations in over 80 countries covering a broad range of industries, ITOCHU is among the world's largest corporations.