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Article: Texaco Acquires 24 Percent Equity Interest In Italy Power Project; 276 Megawatt Facility to Feature Texaco Gasification Technology.
- Article from:
- Business Wire
- Article date:
- September 19, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Sept. 19--Texaco announced today that its subsidiary, Texaco Development Corp., has acquired a 24 percent equity interest in a 276 megawatt cogeneration project under construction at the Anonima Petroli Italiana (API) refinery in Ancona, Italy. The power facility, scheduled for a 1999 start-up, will use Integrated Gasification Combined Cycle (IGCC) technology under license from Texaco.
Ownership in the API ENERGIA S.p.A. project includes API (51 percent) and Asea Brown Boveri (ABB) (25 percent). The project will utilize approximately 7,700 barrels per day of visbreaker tar, a heavy oil residue from the API refinery. ...