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SI Silvergate Capital Corporation

1.25
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Silvergate Capital Corporation NYSE:SI NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.25 0 01:00:00

Siemens Is Awarded Three Transmission Projects From Entergy Corporation

06/07/2004 4:00pm

PR Newswire (US)


Silvergate Capital (NYSE:SI)
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Siemens Is Awarded Three Transmission Projects From Entergy Corporation High Voltage FACTS projects are part of utility's long-term reliability initiatives RALEIGH, N.C., July 6 /PRNewswire/ -- Entergy Corporation has awarded three high voltage transmission projects to Siemens Power Transmission & Distribution, Inc. The new installations will help Entergy increase reliability and capacity on its power transmission system to help meet increasing demand in its Western Service Area. (Logo: http://www.newscom.com/cgi-bin/prnh/20021029/SILOGO ) The three FACTS (Flexible AC Transmission Systems) projects will include two Static VAR Compensators (SVC) and one Fixed Series Capacitor (FSC) that will be built at three primary Entergy substations in Texas and Louisiana. Siemens has contracted with Beta Engineering, LLC of Pineville, LA, to provide site installation, engineering and construction services for the turnkey projects. Construction is expected to begin in October 2004. Numerous system upgrades are underway in Entergy's Western Service Area including a new 230kV transmission line from China, TX to Porter, TX, about 25 miles north of Houston. The Fixed Series Capacitor (FSC) will be installed at the mid-point of this transmission line, and will improve power flow and provide for 70% compensation of the line. Beta Engineering, under a separate contract with Entergy, has begun construction of a new substation in Porter which will include the Siemens SVC, as well as Siemens power circuit breakers, autotransformers, and station arresters. "Entergy has committed to increasing our system reliability and capacity to better serve our customers and to ensure the stability of our transmission system," said John Zemanek, Vice President-Transmission. "These projects are critical components in that strategy as population and loads continue to grow in many areas of our service territory." In 2001, Siemens and Beta completed a similar Fixed Series Capacitor installation at Entergy's Jacinto substation in eastern Texas. A second SVC is being installed at the Ninemile substation in southeastern Louisiana, nine miles up river from New Orleans. The turnkey project will allow Entergy greater flexibility in power supply to the area without loss of system stability or voltage support. Siemens was also awarded maintenance contracts for the three new FACTS projects, as well as the existing FSC at Jacinto. "Siemens has again demonstrated its ability to deliver innovative technology solutions to our customers' problems by providing value-added project management expertise and overall cost savings to our customers," said Dave Pacyna, President & CEO of Siemens Power Transmission & Distribution. "Our successful relationship with Beta Engineering on turnkey projects, understanding our customers' needs and putting them first, positioned us favorably to win these projects," he added. About Siemens Power Transmission & Distribution (USA) Siemens Power Transmission & Distribution, Inc., headquartered in Raleigh, NC, creates innovative product, system and service solutions for its customers -- electric utilities, transmission organizations, Independent System Operators, and large energy consumers. It is a leading supplier of high and medium voltage power delivery equipment and energy management and information systems for regulated and deregulated generation, transmission, and distribution markets. The company's products and systems are used to increase power system capacity and improve the reliability, stability and flexibility of power delivery and network control systems. It has operations in Wendell, NC; Jackson, MS; Minneapolis, MN; San Jose, CA; and Atlanta, GA. For more information visit us at: http:www.usa.siemens.com/energy . About Beta Engineering Beta Engineering, located in Pineville, LA, is an EPC contractor specializing in engineering, procurement and construction of electrical substations, transmission lines, distribution systems and FACTS projects throughout the United States. Beta has been delivering turnkey high voltage power systems for more than 25 years. For more information, visit http://www.betaengineering.com/ . http://www.newscom.com/cgi-bin/prnh/20021029/SILOGO http://photoarchive.ap.org/ DATASOURCE: Siemens Power Transmission & Distribution, Inc. CONTACT: Rita Simonetta of Siemens Power Transmission & Distribution, Inc., +1-919-325-7044, or Web site: http://www.siemens.com/ http:www.usa.siemens.com/energy http://www.betaengineering.com/

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