Verbundplan (Austria) GmbH., which is part of the Jaakko Pöyry Group's Energy business group, has been awarded engineering and project management contracts by Natsionalna Elektricheska Kompania plc. (NEK), Bulgaria for the 80 MW hydropower plant Tsankov Kamak, located in the cascade of the Vacha river, 250 km southeast of Sofia. The total value of the contracts is EUR 6.1 million, and the project implementation time will be 42 months, until end of 2007.
The new Tsankov Kamak contract involves the construction of an arch dam and an 80 MW hydropower plant, rehabilitation works on the existing cascade and the integration of all works to improve the utilisation and water management of the other cascade hydropower stations.
This project is partly financed as the first bilateral Joint Implementation Project between Austria and Bulgaria, supported through the utilisation of the flexible mechanisms of the Kyoto Protocol. Verbundplan has also assisted in arranging the project financing.
Verbundplan was recently acquired by Jaakko Pöyry Group Oyj and is Austria's leading engineering and consulting company in the energy, infrastructure and environment sector. The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 98 million in 2003. Electrowatt-Ekono has offices in 23 countries and employs 1300 experts worldwide.
JAAKKO PÖYRY GROUP OYJ
Erkki Pehu-Lehtonen
President and CEO
Teuvo Salminen
Deputy to President and CEO