|
ENRON CORP. SIGNS ENERGY CONVERSION AGREEMENT WITH GUAM POWER AUTHORITY
FOR IMMEDIATE RELEASE: Monday, September 30, 1996
HOUSTON--Enron Corp. today announced that it has signed an Energy Conversion Agreement (ECA) with the Guam Power Authority for development of an 80 megawatt baseload power plant in Piti, Guam. The $140 million diesel plant will be constructed, owned and operated by Enron Corp. Under a build-operate-transfer (BOT) arrangement, the plant will be transferred to the Guam Power Authority, an agency of the Guam government, in 20 years. Under an ECA, the Guam Power Authority will provide the fuel and Enron will convert it to electricity.
The project is being constructed under legislation granted to Governor Gutierrez by the Guam Legislature to deal with the current power crisis in Guam. Project construction is expected to begin by July 1997, and the plant is expected to be in operation in December 1998.
"Additional electric generating capacity is a critical priority for Guam," said Kenneth L. Lay, Enron Chairman and CEO. "We are pleased to have been selected by the Guam Power Authority."
The project is being developed in cooperation with Guam-based MCM Consultants, Inc., an energy consulting firm.
Enron Corp., one of the world’s largest integrated natural gas and electricity companies with approximately $15 billion in assets, operates the largest natural gas transmission system in the Western Hemisphere and the second largest system in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; produces and markets natural gas liquids worldwide; owns 59 percent of Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns 59 percent of Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; and is one of the largest independent developers and producers of electricity in the world. Enron Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Carol Hensley
(713) 853-6498
 |
