TORONTO, Dec. 11 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced that
its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been
awarded a contract valued at $16 million to supply its Once-Through Steam
Generator (OTSG) units to Bolivian power generation company Empresa Guaracachi
S.A., a subsidiary of U.K.- based Rurelec PLC.
Under the terms of the contract, IST will supply two OTSG units equipped
with supplementary duct burners for increased steam capacity and an exhaust
cooling system to permit the open cycle operation of the existing gas
turbines. The OTSG units will increase the existing plant's operating
efficiency by 40 per cent - an extra 96MW of energy - as a result of
converting waste energy from the exhaust of the gas turbines into electricity.
The units are scheduled to be delivered in August 2008.
As a result of the improved energy efficiency and reduced C02 emissions,
the project qualifies for certified emissions reductions certificates, known
as "carbon credits", under the Kyoto Protocol of the United Nations Framework
Agreement on Climate Change. It is the first combined cycle power project in
Bolivia, which will help alleviate power shortages that are forecasted to
occur this year.
"We are very proud to be part of Guaracachi's Combined Cycle Gas Turbine
project," said Bob Dautovich, President of IST. "The project is one of the
largest single power units to be constructed in Bolivia, and will represent
10 per cent of the country's power production."
This contract brings IST's total sale of OTSG units to 116 units in 15
countries world-wide. OTSG technology improves the efficiency of its
customers' power plants and is better for the environment compared to many
power generation sources.
Innovative Steam Technologies is the world leader in the design and
fabrication of once-through-steam-generators and is a wholly owned division of
Aecon Group Inc.
Aecon is Canada's largest publicly traded construction and infrastructure
development company. Aecon and its subsidiaries provide services to private
and public sector clients throughout Canada and internationally.
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in Section
3.2 "Risk Factors" in Aecon's Annual Information Form available on SEDAR at
www.sedar.com. Although Aecon believes that the expectations reflected in
forward-looking statements are reasonable, it can give no assurance that the
expectations of any forward-looking statements will prove to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, email@example.com, www.aecon.com