GEK TERNA S.A.
GDF SUEZ AND GEK TERNA START COMMERCIAL OPERATIONS OF HERON II, THEIR NEW POWER PLANT IN GREECE
GDF SUEZ and GEK TERNA have just started, in November, commercial operations of Heron II.
Heron II is a 435 MW combined cycle gas turbine (CCGT) power plant jointly owned by GDF SUEZ (50%) and GEK TERNA (50%), located in Viota, in the Thiva area in Greece. The power plant has been successfully constructed by TERNA SA. HERON II will be the most efficient power plant in Greece Heron II is the most modern CCGT in Greece with an efficiency of 58% (compared to 54% average efficiency in Greece). As a result, Heron II is an environmental friendly power plant with reduced fuel consumption and lower CO2 emission.
George Peristeris, Executive Chairman of GEK TERNA underlined: "Already active in renewable energy through Terna Energy, GEK TERNA Group further develops in the energy sector. We are very proud of Heron II CCGT as CCGTs are the most efficient existing conventional power plants." St?phane Brimont, President & CEO of GDF SUEZ Energy Europe, stated:"Heron II underlines GDF SUEZ's strong commitment to sustainable development. With this modern, flexible and low CO2 emitting power plant, GDF SUEZ is in line with Greece's efforts towards a more environmental friendly power production."
An innovative financing
On Wednesday 24 November 2010, Heron II signed a €200 million hybrid financing, with a consortium of Hellenic and international lenders, including European Investment Bank (EIB) . This loan is one of the biggest transactions in Greece since financial support has been provided to Greece by the European Union, the International Monetary Fund and the European Central Bank. Dimitrios Georgantonis, Heron II's General Manager, stated: "GDF SUEZ and GEK TERNA, having completed an investment of around €300 million, increase actually their business presence in Greece, by producing electricity in the most efficient way".
GEK TERNA is one of the largest Hellenic Groups in the sectors of energy production, construction, real estate development & management, facilities management and concessions. In the energy field, GEK TERNA Group operates or has under construction more than 1000 MW (from thermal and renewable energy activity). GEK TERNA Group is also active in Eastern Europe and the Middle East - North Africa region. At present, the Group has two companies listed at the Athenian Stock Exchange Market, GEK TERNA and TERNA Energy, which undertakes all activities regarding Renewable Energy Sources. GDF SUEZ develops its businesses around a responsible-growth model to take up great challenges: responding to energy needs, ensuring the security of supply, combating climate change, and optimizing the use of resources. The Group provides high-performance, innovative energy solutions to individuals, municipalities, and businesses, relying upon a diversified natural gas supply portfolio, a flexible, low CO2-emitting production base, and unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production, and environment services. GDF SUEZ employs 200,650 persons worldwide and achieved revenues of EUR 79.9 billion in 2009. The Group is listed on the Brussels, Luxembourg, and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, and ECPI Ethical Index EMU.
In Greece, GDF SUEZ is active in energy production through Heron I and Heron II power plants (in partnership with GEK TERNA). The Group is also active in energy services through Cofely Hellas A.E. in the field of operation and maintenance of technical installations and in facility management. SUEZ ENVIRONMENT holds a 5% participation in the Thessaloniki Water Supply and Sewerage Co (EYATH).
Heron II is a 435 MW combined cycle gas turbine (CCGT) power plant jointly owned by GDF SUEZ (50%) and GEK TERNA (50%), located in Viota, in the Thiva area in Greece. The power plant has been successfully constructed by TERNA SA. HERON II will be the most efficient power plant in Greece Heron II is the most modern CCGT in Greece with an efficiency of 58% (compared to 54% average efficiency in Greece). As a result, Heron II is an environmental friendly power plant with reduced fuel consumption and lower CO2 emission.
George Peristeris, Executive Chairman of GEK TERNA underlined: "Already active in renewable energy through Terna Energy, GEK TERNA Group further develops in the energy sector. We are very proud of Heron II CCGT as CCGTs are the most efficient existing conventional power plants." St?phane Brimont, President & CEO of GDF SUEZ Energy Europe, stated:"Heron II underlines GDF SUEZ's strong commitment to sustainable development. With this modern, flexible and low CO2 emitting power plant, GDF SUEZ is in line with Greece's efforts towards a more environmental friendly power production."
An innovative financing
On Wednesday 24 November 2010, Heron II signed a €200 million hybrid financing, with a consortium of Hellenic and international lenders, including European Investment Bank (EIB) . This loan is one of the biggest transactions in Greece since financial support has been provided to Greece by the European Union, the International Monetary Fund and the European Central Bank. Dimitrios Georgantonis, Heron II's General Manager, stated: "GDF SUEZ and GEK TERNA, having completed an investment of around €300 million, increase actually their business presence in Greece, by producing electricity in the most efficient way".
GEK TERNA is one of the largest Hellenic Groups in the sectors of energy production, construction, real estate development & management, facilities management and concessions. In the energy field, GEK TERNA Group operates or has under construction more than 1000 MW (from thermal and renewable energy activity). GEK TERNA Group is also active in Eastern Europe and the Middle East - North Africa region. At present, the Group has two companies listed at the Athenian Stock Exchange Market, GEK TERNA and TERNA Energy, which undertakes all activities regarding Renewable Energy Sources. GDF SUEZ develops its businesses around a responsible-growth model to take up great challenges: responding to energy needs, ensuring the security of supply, combating climate change, and optimizing the use of resources. The Group provides high-performance, innovative energy solutions to individuals, municipalities, and businesses, relying upon a diversified natural gas supply portfolio, a flexible, low CO2-emitting production base, and unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production, and environment services. GDF SUEZ employs 200,650 persons worldwide and achieved revenues of EUR 79.9 billion in 2009. The Group is listed on the Brussels, Luxembourg, and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, and ECPI Ethical Index EMU.
In Greece, GDF SUEZ is active in energy production through Heron I and Heron II power plants (in partnership with GEK TERNA). The Group is also active in energy services through Cofely Hellas A.E. in the field of operation and maintenance of technical installations and in facility management. SUEZ ENVIRONMENT holds a 5% participation in the Thessaloniki Water Supply and Sewerage Co (EYATH).