ATCO Power Announces Financing Deal With Commonwealth Bank of Australia
02 Febbraio 2009 - 9:00PM
Marketwired
ATCO Power, part of the ATCO Group of Companies, announced today
that it has signed an Australian $100,000,000 credit facility with
the Commonwealth Bank of Australia.
The facility term is construction plus five years. The interest
rate during construction will be 5.71% and the rate during
operation will be 6.16%. The funds will be used to finance the
design, construction and long term operation of the Karratha Power
Station (Station) located in the Pilbara region of Western
Australia.
The power generated from the Station will be sold under a
20-year Power Purchase Agreement (PPA) with state owned, Horizon
Power. The 86 megawatt Station will consist of two simple cycle GE
LM6000 natural gas turbines. It will produce power using
approximately 35 percent less gas and 35 percent lower greenhouse
gas emissions compared to existing generation sources, and will be
the most energy efficient in the region. The first unit is expected
to be in place by February 2010.
This is ATCO Power's third generation project in Australia. The
company also operates a 180 megawatt cogeneration facility in
Adelaide and a 33 megawatt cogeneration plant at Bulwer Island in
Brisbane.
The Commonwealth Bank is Australia's largest financial
institution providing convenient and accessible banking and
financial services for all Australians. It commenced operations in
1912 and since then, has grown to a business with more than 740,000
shareholders and holds relationships with more than 10 million
Australians. Its Institutional Banking and Markets division is
responsible for managing institutional clients and activities
associated with financial markets and specializes in Utilities,
Energy and Renewable solutions.
Horizon Power was created by the Government of Western Australia
in 2006 to meet the needs of residential and commercial electricity
customers and resource developments in regional Western Australia.
Horizon Power is the energy provider for 31 regional towns and a
growing number of rural communities. It is responsible for
generating or procuring, distributing and selling electricity to
approximately 37,000 customers and major industry in the West
Pilbara region.
ATCO Power is a world-class developer, construction manager,
owner and operator of technologically advanced independent power
generation facilities. The company operates 19 power plants in
Canada, Australia and the United Kingdom with a combined capacity
of more than 4800 megawatts.
ATCO Group is a Canadian-based worldwide organization of
companies with assets of approximately $8.5 billion and more than
7,800 employees actively engaged in Power Generation, Utilities
(natural gas and electricity transmission and distribution) and
Global Enterprises (industrial manufacturing, technology, logistics
and energy services). More information on ATCO can be found at
www.atco.com.
Forward-Looking Information:
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
The Corporation's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of regulatory decisions, competitive factors in the industries in
which the Corporation operates, prevailing economic conditions, and
other factors, many of which are beyond the control of the
Corporation.
The forward-looking statements contained in this news release
represent the Corporation's expectations as of the date hereof, and
are subject to change after such date. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contacts: ATCO Ltd. K.M. (Karen) Watson Senior Vice President
& Chief Financial Officer (403) 292-7502 Website:
www.atco.com
Grafico Azioni ATCO (TSX:ACO.Y)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni ATCO (TSX:ACO.Y)
Storico
Da Lug 2023 a Lug 2024