Management of GENA:
Achievements during the management:
- GECSA signed financing contract with GENA in which was granted a credit line of $ 40 MM.
- GECSA normalized the operation of the plant and Re-negotiated the initial contracts, ensuring a profit for the company.
- Created an administrative structure that ensured a going-concern and hired top managers.
- Repayment of the $20 MM in debts that the GENA had with the spot market.
- 2012 the shareholders capitalized the company by $20 MM and $140 MM in 2013.
- The company won a tender and signed new PPA contracts for power sales of $60 MM in 4 years, burning Diesel.
- Generated a record 399 GWh in 2013 of and net income of $13 MM.
- Signed a PPA contract in bidding: ETESA-04-12, ETESA-05-12, ETESA-08-13.
- Signed a PPA contract in 2014 for power purchases until 2016 with a profit estimated at $50 MM, burning Diesel and Propane (bidding ETESA-08-13).
Participation in the tender ETESA-01-13:
In 2013, with GECSA and some companys from Korea “SK Engineering & Construction” and “Korea Southern Power Co. (KOSPO)” participated in the tender ETESA No. 01-13 with TERMOGAS Project, which consisted in a 350 MW power plant with Natural Gas.
Participation in the tender ETESA-01-15:
In 2015, GECSA and the company from Spain “TSK” and “SIEMENS” participated in the tender ETESA No. 01-15 with TERMOGAS Project, which consisted in a 350 MW power plant with Propane.
Participation in the tender ETESA-02-15:
In 2015, GECSA`s team participated in the tender ETESA No. 02-15 with GTPP, to build a 400 MW power plant, with Natural Gas:
- The proposal was the lowest offer out of the 14th presented in the public event.
- On December 10th 2015, was awarded with a 350 MW Power Purchase Agreement, and has been working on the development of GTPP project.
During the last five years, our group has been awarded 4 different tenders and PPAs using Diesel, Propane and LNG.
|Company||Tender N°||Awarded Item||Duration (Years)||Fuel|
|GENA||ETESA-08-13||Equivalent Power||3.0||Diesel Propane|
|MARTANO||ETESA-02-15||Firm Power And Energy||15.0||Natural Gas|
More recently , in September 2016, GEPSA provided advisory services to the US company "APR ENERGY" to participate in the ETESA-02-16 tender.