Enron Corp. and Hrvatska Elektroprivreda Sign A Memorandum of Understanding to Build Power Plant In Croatia
FOR IMMEDIATE RELEASE: Monday, July 15, 1996
HOUSTON -- Enron Corp. today announced that it signed a Memorandum of Understanding (MOU) with Hrvatska Elektroprivreda (HEP), the Croatian electric power utility, in Zagreb, Republic of Croatia.
Under the terms of the MOU, Enron and HEP will negotiate a Power Purchase Agreement (PPA) in which Enron will develop, build, own and operate a natural gas-fired combined cycle power plant. The plant's capacity is expected to be between 150 and 180 megawatts. Plant construction is targeted to begin in 1997, with first power deliveries by 1999.
Enron Corp., one of the world's largest integrated natural gas companies with approximately $13 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
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