T-Power Project [Belgium]

Advanced Power, in partnership with Tessenderlo Chemie NV and Siemens Project Ventures GmbH, successfully developed a 420 MW combined-cycle gas-fired power project at the Tessenderlo site in Belgium. Remarkably, the project raised €436 million of project financing in the midst of a rapidly deteriorating economic climate, reaching financial close in December 2008.

Having achieved the financing of the project, Advanced Power sold its stake in the T-Power Project to International Power, one of the leading Independent Power Producers (IPP). The project is now in construction and is expected to begin commercial operations in 2011.

The T-Power project won the 2009 Energy Risk Award for its tolling deal. To find out more about the Award, please visit http://www.essenttrading.com/_internet/News/inthepress/ER_Essent_0109_2.pdf

Reference articles for download about the T-Power Project:

Project Finance Magazine (PDF, 94KB)

Power in Europe (PDF, 166KB)