Cinergy sells Moravske plant

Olten, Switzerland-based

has acquired the Moravske Teplarny thermal power plant in the

. Located near the town of

, the plant produces and supplies electricity, process heat and district heating.

Atel will take over full ownership of the Moravske Teplarny thermal power plant in the south-eastern part of the Czech Republic from an American energy group owned by Cinergy Corp. The transaction is expected to be completed before the end of 2005. The parties have agreed not to disclose details on the purchase price.

Moravske Teplarny has a combined capacity of 66MW of electrical power and 377MW of thermal power. The plant is also said to offer considerable potential for expansion.

The primarily coal-powered plant went into operation in 1996 and 2001 and, according to Atel, meets all current environmental and safety requirements. It also has ISO 9001, ISO 14001 and ISO 18001 certification.