MYTILINEOS (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) announced the development of three open source power plants (OCGT) in the United Kingdom through the Sustainable Development Project. These are projects with a total value of over 300 million euros that further strengthen the company’s position in the UK market.
In particular, MYTILINEOS has signed contracts with three subsidiaries of Drax Group plc, the largest renewable electricity company in the United Kingdom, namely Hirwaun Power Limited, Progress Power Limited and Millbrook Power Limited to manufacture 3 OCGTs with power about 299 MW each. The contracts include the design, supply and construction (EPC) of all 3 stations, which will be identical. The equipment of each gas turbine will be Siemens Energy SGT5-4000F.
Each generating unit will operate locally (with a remote operation facility) as a cutting-edge unit and will operate up to 1,500 hours per year to support the grid during periods of high electricity demand and during any stressful events.
All 3 OCGTs are expected to be commercially operational by 2024.
The Drax Group deals with the production of energy from renewable sources, the production of sustainable biomass and the sale of electricity from renewable sources to companies. Manages a portfolio of sustainable biomass production, hydroelectric and pumped hydroelectric storage facilities at several locations in England and Scotland. The company also operates a global bioenergy supply company with production facilities at 17 plants and facilities in the United States and Canada, producing compressed wood pellets for its own use and for customers in Europe and Asia.
This is the second energy project for the MYTILINEOS Sustainable Development Project in the UK, as the company has already undertaken the design, procurement and construction (EPC) of a Protos Energy Recovery Facility in Cheshire, England. will process 400,000 tons of non-recyclable waste annually, delivering 45 MW to the grid. The projects will strengthen MYTILINEOS ‘position in the United Kingdom, but also in the European energy market.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
