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ENRON AND TOMEN COMMENCE OPERATION OF GUAM POWER PLANT AHEAD OF SCHEDULE
FOR IMMEDIATE RELEASE: Wednesday, March 03, 1999
HOUSTON – Enron International, a wholly owned subsidiary of Enron Corp., and Tomen Corporation announced today that they have commenced commercial operation on the 80-megawatt Enron Development Piti L.L.C. independent power project in Piti, Guam. Total project cost for the combined cycle facility is approximately US$155 million.
“Enron is pleased to be generating electricity for the people of Guam, nearly two months ahead of schedule,” said Joseph W. Sutton, Enron International president and CEO. “This project is an excellent example of our ability to respond to our customer’s needs by developing a fast track project that provides energy for the island’s growing power requirements.”
In September 1996, Enron signed a 20-year Energy Conversion Agreement with the Guam Power Authority (GPA), an agency of the Guam government, for the development of the power project. One year later, in September 1997, Enron announced that it had completed project financing and commenced construction. The baseload power plant uses waste heat to more efficiently generate additional power for Guam in an environmentally preferred process.
Enron and Tomen are equal partners in the project, and Enron operates the power plant. Enron Engineering & Construction Company subsidiaries served as turnkey contractors, with Burmeister & Wain Scandinavian Contractor A/S, Inc. and Mitsui Engineering & Shipbuilding Co., Ltd. serving as subcontractors.
Enron is one of the world’s leading integrated electricity and natural gas companies. The company, which owns approximately $30 billion in energy related assets, produces electricity and natural gas, develops, constructs and operates energy and water facilities worldwide and delivers physical commodities and risk management and financial services to customers around the world. Enron’s Internet address is www.enron.com, and the stock is traded under the ticker symbol, “ENE.”
Tomen Corporation currently is developing worldwide power projects and has the largest generating capacity among major Japanese trading firms, with total installed capacity of approximately 7,000 megawatts. Tomen plans to aggressively participate in pipelines, water and other utility related businesses in addition to power.
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For additional information please contact:
Kelly Kimberly
(713) 646-6416
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