Worldwide energy agreement

Citation

(1999), "Worldwide energy agreement", Pigment & Resin Technology, Vol. 28 No. 5. https://doi.org/10.1108/prt.1999.12928eab.016

Worldwide energy agreement

Worldwide energy agreement

Keywords: Trigen-Cinergy, Millennium, Energy conservation, Powerplants

Trigen-Cinergy Solutions (Trigen-Cinergy) and Millennium Inorganic Chemicals (Millennium) announced the signing of a global energy outsourcing agreement to facilitate a 20 per cent reduction in energy costs for Millennium's plants worldwide. Millennium, believed to be the world's second largest producer of titanium dioxide, operates plants in the UK, Brazil, Australia, France and the USA. Total value of the transaction is expected to be approximately $1.0 billion in revenues to Trigen-Cinergy over the term of the agreement. This agreement follows the Trigen-Cinergy contract signed last December to provide energy and utility services at the Millennium Hawkins Point Plant in Baltimore and the closing recently of a new, 20-year outsourcing contract for Millennium's facility in Ashtabula, Ohio, USA.

The worldwide energy agreement will provide the framework for Trigen-Cinergy to design, build and operate combined heat and power plants and provide energy and utility services for specified Millennium global operations. In addition to the efficient operations practices, project timelines and financial parameters set forth by the comprehensive pact, there is an innovative sharing arrangement of productivity improvements, with Trigen-Cinergy incentivized to drive costs below Millennium's established targets.