Government of Kosovo and ContourGlobal select potential EPC providers for the commissioning of the Kosova e Re Power Plant

Government of Kosovo and ContourGlobal jointly announce the results of the Initial Selection process to provide the Turnkey Engineering, Procurement and Construction Contract in respect of the Kosova e Re Power Plant Project.

Following the announcement of the Initial Selection process in June, six applications were received and assessed by ContourGlobal. These results were then recognised by the Government of Kosovo. Four of these six applicants have been pre-qualified after the assessments concluded that they met the robust technical and financial criteria and provided letters of intent from financial institutions.

The following EPC bidders have been pre-qualified: CMEC; a consortium composed of ENKA, Mitsubishi Hitachi Power Systems, and Técnicas Reunidas; a consortium of General Electric companies; and Hyundai. These bidders have furthermore proposed equipment supplies from Doosan, General Electric, IHI, Mitsubishi Hitachi Power Systems, Rafako, Siemens, and Toshiba as well as Long-term Maintenance services from Alstom Power Service; General Electric; KEPCO; consortium of KEPS, HPS, and OES; and a consortium of Mitsubishi Hitachi Power Systems, ENKA, and Técnicas Reunidas. The RFP process has now been initiated.

Prime Minister of Kosovo, Ramush Haradinaj, said: “We are pleased to have attracted the largest power plant constructors in the world for the Kosova e Re power plant. The power plant will greatly improve the reliability of electricity supply, deliver environmentally cleaner energy and boost the economy in Kosovo by proving instrumental in ensuring strong economic perspective for the country. Government of Kosovo and ContourGlobal are committed to a timetable which will see construction starting by the end of the first quarter of 2019”.

Joseph Brandt, Founder and CEO of ContourGlobal, said: “Kosova e Re is crucial to the future of Kosovo’s energy supply and we are pleased to have received pre-qualifying bids and proposed financing from the largest and most reputable EPC contractors globally”.

Kosova e Re Power Plant Project

Minister of Economic Development, Valdrin Lluka, had previously stressed that “the Government of Kosovo has recognised the need for additional power plant capacity to meet the long-term security-of-supply concerns present in Kosovo and provide the country’s necessary baseload electricity. As part of this strategy, the Kosova e Re Power Plant will replace the current outdated units of the Kosovo A Power Plant”.

Kosova e Re power plant marks a milestone for the economy of the Republic of Kosovo and will represent the biggest foreign direct investment in the country. It will improve the stability of power supply, putting an end to the $415 million loss per year caused by the current unreliable power supply in Kosovo.

The new plant will result in greatly improved air quality by reducing the emissions of main polluters and will contribute to the improved health of people living and working in the region. Dust emissions will be reduced by 93%, while SOx and NOx will be reduced by 85% and 93% respectively, with CO2 being cut by 38%.

About ContourGlobal

ContourGlobal is listed on the premium segment of the London Stock Exchange (TKR: GLO). ContourGlobal is an international owner and operator of contracted wholesale power generation businesses with approximately 4,312 MW in operation in 18 countries and three continents. ContourGlobal operates a portfolio of 101 thermal and renewable power plants across Europe, Latin America, and Africa utilizing a wide range of technologies.

Enquiries:

Investor Relations - ContourGlobal

Gregory Johnson

Tel: +44 0207 355 7321

gregory.johnson@contourglobal.com 

Media - Brunswick

Charles Pretzlik/Simon Maine

Tel:  +44 (0) 207 404 5959

Contourglobal@brunswickgroup.com