ECONOMY

Endesa has power plans

Endesa Hellas, a joint venture of Spanish utility Endesa and Greek engineering group Mytilineos, plans to build its third power station in Greece by 2010, it said yesterday. Endesa Hellas said its board of directors approved the construction of a 400-megawatt gas-fired power station, which will bring total capacity to 1,400 megawatts. Construction is expected to start in the first half of next year and due to finish two years later, Endesa Hellas said. It said the site of the planned unit will be finalized after a feasibility study. Endesa Hellas currently operates wind parks and small hydroelectric stations in Greece and is due to start operating its first 334-megawatt power station in central Greece in September. A second gas-fired plant will start operating in 2009. The firm also said its board approved a -168.8 million cash contribution by Endesa Europa in its share capital. Endesa Hellas, which competes with former Greek power monopoly Public Power Corporation (PPC), has said it plans to build two more coal-fired plants, aiming at a 16 percent share of the total produced energy in Greece by 2015. (Reuters)