InnCogen Ltd., a subsidiary of York Research Corp., is to build a 215 MW power plant in Trinidad and Tobago, Dow Jones has reported. The company has reached a 30 year power purchase agreement with the Trinidad and Tobago Electricity Commission, with deliveries of electricity starting at the end of 1999.
The power sale agreement consists of fixed capacity payments tied to US inflation rates as well as additional energy production payments. The payments will be guaranteed by the republic.
The plant is expected to cost around $100 million. InnCogen will fund the initial site construction and intends to seek non-recourse financing for the balance.
