OREANDA-NEWS. January 13, 2011. SORAINEN Estonia advised Alstom, a world leader in transport infrastructure, power generation and transmission, in an Engineering, Procurement and Construction (EPC) contract procurement process with Eesti Energia. In December 2010 Eesti Energia agreed with Alstom on the conditions of the contract to build a new power plant in which Eesti Energia will invest approx EUR 950 million. This transaction is believed to be the largest EPC transaction by volume in the Baltic region in 2010.

Eesti Energia and Alstom have agreed on the contract terms and the signing of the contract is expected early in 2011. A new power plant of up to two oil-shale fired power units (2 x 300 MW) equipped with circulating fluidised bed (CFB) technology will be built next to an existing Eesti Power Plant near Narva. Investment in new power plants ensures more environmentally sustainable energy production in the future and necessary energy production capacity when some older power units have to be decommissioned. Completion of the first power unit is scheduled for the end of 2015.