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Rubenius to Build $4 Billion Electricity 'Warehouse' (Update1)
2010-12-08 23:10:26.632 GMT
(Updates to add chairman's comments starting in the third
paragraph.)
By Carlos Manuel Rodriguez
Dec. 8 (Bloomberg) -- Rubenius, a Dubai-based alternative
energy company, said it will build a $4 billion storage facility
for electricity in the Mexican-border state of Baja California.
"The warehouse will have a capacity of 1,000 megawatts,"
said Claus Rubenius, chairman of Rubenius, in a phone interview
today in Cancun. The project will be implemented in "five or
seven years," he said.
The project, which will use sodium sulphide energy storage
batteries, will serve the Mexican and U.S. markets, Rubenius
said. One megawatt is enough for 800 U.S. homes.
The facility will be located in the capital city of
Mexicali, and it will have the capacity to store power generated
on both sides of the border, where wind and solar plants are
being built, he said.
Rubenius said the company will announce its financing plans
"later in the year."
"We're using private funds, government funds and we're
using various debt instruments," Rubenius said without
elaborating.
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--Editors: Reed Landberg, Will Wade
To contact the reporter on this story:
Carlos Manuel Rodriguez in Mexico City at +52-55-5242-9252 or
carlosmr@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or
landberg@bloomberg.net
