Power International Buys Czech Plant

Power International Thursday announced its latest Central European power plant acquisition, this time a natural gas plant in the Czech Republic.

The firm bought the assets of the Terplarna Kromeriz heating plant in the city of Kromeriz for an undisclosed price.

Power International managing director Mike Mallinen said the firm plans to invest $25 million in upcoming years to modernize and improve the plant. The improvements will add 75 megawatts to the plant’s 63-megawatt capacity.

Power International is an independent power broker headquartered in Coeur d’Alene. It develops investment opportunities in the former Eastern Bloc’s aging power system, and designs privatization plans for countries such as Kazakhstan and the Czech Republic.

Power will use a clean-burning gas turbine system for the plant’s newest power source, Mallinen said. It will spend about $1.2 million this year to design the improvements and obtain permits. Construction will begin in early 1996.