German local utility Mainova is investing in the construction of a 445 MW combined-cycle gas turbine (CCGT) in Bremen, north-west Germany.
ICIS Heren reported Mainova, which holds a 25.1 per cent stake in the project, as saying the plant will cost around EUR450m ($633m) and will start operations in 2013.
"Participation in the new CCGT plant is part of our production strategy. By 2015 Mainova plans to invest EUR500m in highly efficient power and heat generation," Mainova technical director Joachim Zientek said in a statement.
The power plant will have an efficiency of more than 58 per cent and be extremely flexible, the company said.
The owners of the remaining 74.9 per cent are as follows: DB energy, the power company supplying German rail company Deutsche Bahn, has an interest of 2%. This will entitle it to a 165 MW of generation capacity, which will be used to power German trains.
TOBI, a consortium of municipal utilities from Lower Saxony and North Rhine-Westphalia, owns 15.5 per cent, while the remaining 57.4 per cent is owned by local utility swb Bremen, which also has the option to sell 8.4 per cent to new partners.
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