Renewables

Black & Veatch selected to perform renewable energy study in 27 countries


Kansas City, Mo., August 30, 2002 — Black & Veatch was selected by the European Bank for Reconstruction and Development (EBRD) to assess the potential for renewable energy use in 27 countries located throughout Central and Eastern Europe and the former Soviet Union.

The objective of the project is to identify a pipeline of renewable energy projects suitable for further investigation and possible future funding by the EBRD.

The EBRD is owned by 60 countries and two intergovernmental institutions. It was established in 1991, after the disintegration of communism in Central and Eastern European and the former Soviet Union countries to bolster business and promote environmental stewardship through economics and governance.

The renewable energy assessment is an essential piece of the EBRD’s overall endeavor to identify and ensure reliability of future energy needs. According to the EBRD Transition Report 2001, “These countries are rich in both traditional and renewable resources.

However, so far these countries have not taken advantage of their resource wealth. Huge investments are required if the region is to realize its energy potential.” The study is a technical evaluation that will include various types of renewable energy resources available for commercial use.

Black & Veatch and its international subcontractors will develop a compilation of country profiles that identify key areas that have high renewable energy potential. It will recommend renewable energy projects that are well-suited for these countries including wind, geothermal, solar, small to medium hydroelectric, biomass and other supporting and complementary technologies such as energy storage to ensure reliability.

Black & Veatch will then rank and screen the initial project ideas by technical, market and economic potential to determine whether or not they are suitable to be considered for investment by the EBRD. Eventually, this process will result in a short list of potential projects that merit further evaluation.

“The breadth of this review is immense. It involves reviewing the prospects for five energy resources in 27 countries that represent about a quarter of the world’s land mass. In addition, we are working with a team of seven qualified subcontractors scattered throughout the region. The sheer volume of data alone requires some unique approaches to project management,” said Black & Veatch Project Manager John Wynne.

“We are confident that the effort will ultimately lead to the development of many successful renewable energy projects.”

The EBRD project is funded by the U.S. Trade and Development Agency Evergreen Fund and The UK EBRD Technical Cooperation Fund and is scheduled for completion in December 2002. For more project information, please visit http://projects.bv.com/ebrd/.

About Black & Veatch

Black & Veatch Corp. is a global engineering, construction and consulting company specializing in infrastructure development in the fields of energy, water and information.

Founded in 1915, Black & Veatch serves its clients with conceptual and preliminary engineering services, engineering design, procurement, construction, financial management, asset management, information technology, environmental, security design and consulting, and management consulting services.

Headquartered in Kansas City, Mo., the employee-owned company has more than 90 offices worldwide. The company’s Web site address is www.bv.com.

About EBRD

The European Bank for Reconstruction and Development was established in 1991 when communism was crumbling in Central and Eastern Europe and the former Soviet Union countries and needed support to nurture a new private sector in a democratic environment.

Today the EBRD uses the tools of investment to help build market economies and democracies in 27 countries from Central Europe to Central Asia. The EBRD is the largest single investor in the region and mobilizes significant foreign direct investment beyond its own financing. It is owned by 60 countries and two intergovernmental institutions.

But despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners. It provides project financing for banks, industries and businesses, for both new ventures and investments in existing companies.

It also works with publicly-owned companies, to support privatization, restructuring of state-owned firms and improvement of municipal services. The EBRD uses its close relationship with governments in the region to promote policies that will bolster the business environment.

The mandate of the EBRD stipulates that it must only work in countries that are committed to democratic principles. Respect for the environment is part of the strong corporate governance attached to all EBRD investments.

Source: Black & Veatch