UK: Pecem II Power Project Achieves Financial Close
Last Updated: 14 January 2009

Shadbolt has today announced the financial close of the Brazilian power project, Pecem II, a 365MW coal power station in Pecem, Brazil.  Shadbolt’s client, Doosan Babcock Energy Limited, is the UK supplier of mechanical and electrical equipment, including the power station’s boiler unit.

This is the second phase of the Pecem power project, Phase I having closed in March 2008. Shadbolt also acted on this phase of the deal which involved the construction of 3 x 360MW coal power stations. 

As a result of the contract, Doosan Babcock, the leading global energy services company, will provide the equipment to supply over 7% of Brazil’s total fossil fuel generation. The project will draw on the skills and expertise of members of Doosan Babcock’s workforce from across the globe.

Commenting on the deal, Steve Whyley, Sales and Marketing Director at Doosan Babcock, said: "This contract is a major landmark in Doosan Babcock’s strategic expansion in Latin America and builds on the relationship with MPX, a company with major power and related interests in the region. The project win is testament to our global capabilities, which enable us to leverage successful operations in other countries to ensure the delivery of proven technology at competitive prices."

Daniel Tain at Shadbolt added: "As a firm we are actively involved on major energy projects around the world and currently have lawyers advising on projects in Latin America, the Caribbean, Africa and Eastern Europe. This close of the Pecem II Project is indicative of our increased activity in the Latin American power market over the last 12 months, particularly in relation to coal power stations."

Shadbolt’s energy group have been involved in a number of the major power projects over recent years, including de-commissioning at Chernobyl and Sellafield, contract issues at Olkiluoto in Finland and power plant procurement in Europe, East Asia, the Middle-East and Africa. We are now working on projects in relation to renewables, nuclear, oil, gas and coal.

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