UK’s Wood Group in $875 million deal to build Israel power plant
02 Dec 2010
British energy services company John Wood Group Plc (Wood Group) has agreed to construct
an 800 MW thermal power plant for Israel's Dorad Energy Ltd, in a deal valued at
approximately of $875 million.
Wood Group GTS will have full turnkey responsibility, which includes engineering, procurement, and construction (EPC) through commissioning, for the natural-gas fired Dorad power plant, Israel's largest power generation facility in private sector.
Aberdeen-based Wood Group is an international energy services company engaged in three business areas: engineering and production facilities, well support, and gas turbine services for oil and gas, and power generation industries. The $5-billion company has presence in 50 countries and employs around 29,000 people.
The new power plant is expected to be commissioned in 3-years, and will represent approximately 8 per cent of Israel's total installed power generation capacity.
Wood Group GTS CEO Mark Papworth said, ''The landmark Dorad power plant will be one of the first major operational independent power producers following Israel's deregulation of electricity markets.''
The market for additional gas-fired power generation capacity would see a robust growth as the global economy recovers, and the demand for power generation increases, Papworth stated.
