Aggreko wins $75m contracts in Panama and Oman

Aggreko has won two contacts in Oman and Panama for the supply of 215 MW of temporary power with a combined value of US$75 million. The 100 MW Panama contract is the company's largest ever in the region.

The Panama contract is with the state-owned utility company Empresa de Generación Eléctrica SA (EGESA) and covers 100 MW of power for the national grid for an initial period of 12 months. Aggreko said it targeted Panama as a key market three years ago and the contract follows the recent opening of a new regional hub in the country.

Panama needs the additional power because low rainfall has reduced the output from its hydro-electric power plants. Aggreko will provide power at two locations at up at 115000 volts.

The Oman contract is with Oman Power and Water Procurement Company, and comprises the supply of 115 MW at five sites for a minimum three month period during the summer.

Rupert Soames said the contracts again demonstrated the company's ability to provide power at short notice; "These two contracts also underline the global reach of Aggreko, and the ability to deliver power cost-effectively for short periods of time to help utilities overcome temporary shortfalls".