Atel will take over full ownership of the Moravske Teplarny thermal power plant in the south-eastern part of the Czech Republic from the American energy group owned by Cinergy Corp. The transaction is expected to be completed before the end of 2005. The parties have agreed not to disclose details on the purchase price. The plant is located in an industrial complex near the town of Zlin in the south-eastern part of the Czech Republic. Moravske Teplarny has a combined capacity of 66 MW of electrical power and 377 MW of thermal power; the plant also offers considerable potential for expansion. The primarily coal-powered plant went into operation in 1996 and 2001 and meets all current environmental and safety requirements. It also has ISO 9001, ISO 14001 and ISO 18001 certification, which means that it complies with a high set of standards in the areas of workplace safety, environmental management and process safety. The plant generates electricity as well as process heat for industrial enterprises and district heating for parts of the surrounding area.
The move will allow Atel to further expand its position as a leading energy service provider in Central and Eastern Europe. The power generated by the newly acquired plant will compliment and support Atel's current energy trading and distribution business. Atel already boasts significant proprietary production capacities in Hungary and the Czech Republic: the Csepel power plant outside Budapest (Hungary) and the ECKG plant in Kladno near Prague (Czech Republic). In conjunction with the established distribution and trading companies, Atel will therefore be in a position to provide optimal solutions for the customer-specific needs of this region.
Aare-Tessin Ltd. for Electricity Corporate Communications