On 23 June, TSK signed the contract to build a turnkey electricity generation plant with 120 MW of installed power, using 13 Rolls Royce brand gas engines, as well as all of the auxiliary equipment and services. It is expected that the project substation will also be added to the scope of the contract immediately.
The plant is located in the town of Ressano Garcia, in Mozambique (on the border with South Africa). The end client is the company GIGAWATT. The project will be financed through project financing by a group of financial entities led by Standard Chartered Bank. TSK's experience in structured financing has enabled it to close the deal successfully, despite the complexity of this type of financing.
At the same time, the company also signed the operation and maintenance contract for a period of 5 years (which may be extended for another two 5-year periods up to a maximum of 15 years). TSK has established a Joint Venture with the American-controlled company EEN for operation and maintenance. Both TSK and EEN have vast experience in electrical power plant O&M.
The total amount of the contract is €90 million, which could increase to €150 million depending on the number of years of operation and maintenance.
As a result of the negotiation and signing of this contract, other contracts have been established in Mozambique, opening a new and growing market, while reinforcing TSK's presence in southern Africa, where a 50 MW solar thermal plant is currently under construction in South Africa, valued at €300 million.
TSK has a long tradition in Africa, where it has been working continuously since 2000, undertaking projects in Morocco, Senegal, Angola, Sudan, Algeria, South Africa, and now Mozambique.
This contract is added to others that were recently rewarded, such as a raw materials handling facility in the United States, a water treatment plant in Colombia and an electricity substation in Algeria.
The engineering and technology group TSK closed out 2013 with €483 million in turnover: 16% more than the year before. For the current year, the Gijón-based engineering firm will exceed its record of €500 million in sales for the first time, with 97% coming from international markets. TSK currently has projects underway in 16 countries on 4 continents.