PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Largest Cogeneration Power Plant in México, Owned by Abengoa and GE Named Overall Latin American and Latin American Power Deal of the Year - Announced at the 12th Annual Project Finance Deals of the Year Awards Dinner in New York City on March 3, the magazine selected the financing for the 300-megawatt cogeneration power plant under construction in Tabasco, México (NYSE: GE)
Largest Cogeneration Power Plant in México, Owned by Abengoa and GE Named Overall Latin American and Latin American Power Deal of the Year

 

NewswireToday - /newswire/ - Madrid, Spain, 2011/03/04 - Announced at the 12th Annual Project Finance Deals of the Year Awards Dinner in New York City on March 3, the magazine selected the financing for the 300-megawatt cogeneration power plant under construction in Tabasco, México (NYSE: GE). NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The financing of México’s largest cogeneration power plant—owned by GE Energy Financial Services, a unit of GE (NYSE:GE), and Abengoa (MCE: ABG.MC)—has been named Overall Latin American and Latin American Power Deal of the Year by Project Finance magazine.

Announced at the 12th Annual Project Finance Deals of the Year Awards Dinner in New York City on March 3, the magazine selected the financing for the 300-megawatt cogeneration power plant under construction in Tabasco, México, because it enabled construction of the first independently-owned power plant to supply Méxican state oil company PEMEX.

“These awards are a tribute to the willingness of the Méxican government and the project’s sponsors—GE and Abengoa—to work through the effects of the credit crunch and should herald easier private investment in México’s energy sector, ” said Tom Nelthorpe, Editor of Project Finance magazine.

In June 2010, GE and Abengoa announced that they would jointly invest $180 million to develop the largest cogeneration power plant in México. Construction began in September 2009, with commercial operation expected next year.

The cogeneration power plant will use two GE Energy Frame 7FA gas turbines and will supply electricity and steam under a 20-year services agreement to the Nuevo Pemex gas processing complex, owned by a subsidiary of PEMEX. The plant is expected to directly supply 55 percent of Nuevo Pemex’s steam demand and all of its power demand; additional power output will be provided to other PEMEX operations throughout México over its national transmission system.

Cogeneration, the simultaneous production of electricity and heat using a single fuel source such as natural gas, harnesses heat that would otherwise be wasted. This can result in higher thermal efficiency or higher heat values; also, carbon dioxide emissions can be substantially reduced.

These awards strengthen Abengoa’s position as a global leader in the application of innovative solutions for sustainable development, and underscore GE Energy Financial Services’ core strengths in structuring investments in long-lived, critical energy assets.

The Project Finance Awards—the first in the industry—recognize innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects, large or small. Visit projectfinancemagazine.com for more information.

About Abengoa

Abengoa (MCE: ABG) is an international company that applies innovative technology solutions to sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (abengoa.com)

About GE Energy Financial Services

GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its US $21 billion in assets. GE Energy Financial Services is based in Stamford, Connecticut, USA. For more information, visit geenergyfinancialservices.com/.

About GE

GE (ge.com) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Largest Cogeneration Power Plant in México, Owned by Abengoa and GE Named Overall Latin American and Latin American Power Deal of the Year

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Christa Bowers - GE Energy Financial Services 
+1 203 961 2934 christa.bowers[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

GE and Solairedirect India Partner for the Next 25 Years
ENGIE Wins Major Contract with Transport for London
Boost in Genset Manufacturing Activity to Resolve Power Challenges in the Southern African Region Finds Frost & Sullivan
ENGIE to Become Worldwide Leader of Independent District Cooling by Acquiring A 40% Stake in Tabreed from Mubadala
Asia-Pacific Renewable Energy Inverters Market Leverages Favourable Targets and Feed-in Tariffs to Catalyze Growth, finds Frost & Sullivan
GE Introduces Rugged, Resilient Power Supply for Industrial Applications
Energy Technology Developers Focus on Sustainability and Efficiency to Stay Relevant in a Changing Market Finds Frost & Sullivan
Baker Hughes and GE Announce Executive Leadership Team for Baker Hughes, a GE Company
Enel Green Power Acquires Two Wind Farms in Campania from Amec Foster Wheeler
Enel and Rosseti Sign MoU for Cooperation in Innovative Smart Grid Solutions
World’s Largest Floating Photovoltaic Power Plant Test-bed Features ABB Technology
Enel Group Confirmed in Euronext Vigeo Eiris Sustainability Indices for Fifth Straight Year
Invenergy Selects GE Renewable Energy to Provide Cyber Security for Entire Fleet
GNF3 Fuel Product Completes U.S. NRC Approved Process for New Fuel Product Introductions
Surging Demand from Data Centres Energises European Diesel Genset Market Finds Frost & Sullivan

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  MagLar, Inc.

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)