Financing Power Generation Globally
Siemens participated in multiple power generation projects around the globe, playing an active role as both supplier and financier
Customer example: Electrogas Malta
Siemens’ Power & Gas Division was recently awarded an order in Southeastern Malta, by Enemalta Power, to provide equipment for the construction of a 200MW natural gas-fired combined-cycle gas turbine (CCGT) and Floating Liquefied Natural Gasification (LNG) Terminal, including an LNG storage solution. Siemens’ Financial Services (SFS) Division supplied equity and helped structure the overall financing for the project, supporting the power plant’s construction.
Customer example: Panda Power Funds Stonewall Power Plant
In the U.S., Panda Power Funds turned to Siemens for a holistic solution for both its financing and energy needs in the state of Virginia for its Stonewall Energy project – a 778 MW combined-cycle gas project. SFS provided a USD 75 million equity investment allowing the organization to finance the creation of the new power plant. In addition to the financing, Siemens Power & Gas Division also supplied gas turbines, steam turbines and generators to help Panda Power Funds deliver on their natural gas promise.
Customer example: Azura-Ido Power Project
In Nigeria, the Azura-Edo Independent Power Project reached Financial Close in December 2015. The orders that Siemens received for this 459MW natural gas-fired combined-cycle gas turbine (CCGT) project comprise construction of the turnkey plant (including 3 SGT5-2000E gas turbines and SGen-100A generators) and a long-term service contract for maintenance and service of the plant for a period of twelve years. SFS has been involved in the structuring of the financing since 2012 and is contributing USD 50 million to partially fund the development, construction and operation of the project’s first phase. A further expansion of the power plant is planned, in which a total capacity of 1.5 gigawatts (GW) is to be installed in several stages.
Siemens will continue to support power generation projects with both equipment and financing as the world seeks to meet increasingly stringent energy efficiency targets.