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Name:
Teco Power Services Address:
702 N.
Franklin City:
Tampa
State: Florida Employees:
5,487 Year
Established: 1987 CEO:
Richard Ludwig Product:
Energy Distribution
Teco Power
Services
TECO Energy’s TECO Power Services subsidiary has completed its
acquisition of American Electric Power’s Frontera Power Station, close to
McAllen, Texas, about two miles from the border. The plant is capable of
selling power domestically, as well as into the Mexican power market.
"We’re
pleased to add Frontera to our expanding generation
portfolio." TPS President Rick Ludwig said. "This
acquisition provides us with an unrivaled opportunity to serve
both the continental United States and Mexico from one facility
and we’re actively pursuing contracts in both markets. In
fact, this opportunity appears to have the potential to benefit
from the proposed North American energy system integration that
President Fox and President Bush announced during their joint
meeting on Feb. 16."
The plant’s
location is considered ideal, given the U.S./Mexican border
region’s tremendous growth during the six years since the
passage of NAFTA. Frontera is a 500-megawatt natural gas-fired
combined-cycle plant. Built by CSW Energy, a subsidiary of
Central and Southwest Corporation, prior to the completion of
its merger with AEP, the plant began simple-cycle operation in
July 1999 and combined-cycle operation in May 2000. AEP was
required by the Federal Energy Regulatory Commission to divest
its ownership of this facility as part of the merger.
This acquisition
is the latest in a series of projects announced by TPS in the
last year, totaling more than 6,000 megawatts of capacity. The
company now has ownership of more than 7,000 net megawatts of
announced generating projects, either operating, in construction
or in advanced stages of development.
TECO Power
Services is a wholly owned subsidiary of TECO Energy, a
diversified, energy-related holding company headquartered in
Tampa. TECO Power Services builds, owns and operates electric
generation facilities in high growth areas of North America.
Domestically, recently announced projects call for TPS to serve
customers in 18 states. Other TECO Energy businesses include
Tampa Electric, Peoples Gas System, TECO Transport, TECO Coal,
TECO Coalbed Methane, TECO Propane Ventures and TECO Solutions.
TECO Energy as a whole has ownership interests in nearly 12,000
megawatts, operating or under development worldwide.
TECO
Power Services
Created in 1987,
TECO Power Services (TPS) develops, owns and operates domestic
and international electricity generation projects and
distribution businesses in high-growth areas in the Americas.
TPS began with its first major
project in Florida, the 295-MW Hardee Power Station. Brought
online in 1993, the Hardee Power Station provided TECO Power
Services with a strong start and solid experience in project
development and financing, as well as the many operational
aspects of modern generation technology. Building on that
foundation, TPS has successfully moved into high-growth markets
throughout North and Central America, markets that are now very
familiar to TECO Power Services.
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