Sherritt’s Cuban power business operates through a one-third interest in Energas S.A. The remaining two thirds interest is held equally by two Cuban agencies: Union Cubapetroleo (CUPET) and Union Electrica (UNE). Did you know that raw natural gas that would otherwise be flared is supplied to Energas by CUPET free of charge? The processing of raw natural gas produces clean natural gas, used to generate electricity, as well as by-products such as condensate and liquefied petroleum gas. The Energas facilities, which are comprised of the two combined cycle plants at Varadero and Boca de Jaruco, produce electricity using steam generated from the waste heat captured from the gas turbines.
In 2007, the unit at our Varadero facility was granted Clean Development Mechanism status under the provisions of the Kyoto Protocol by the United Nations Framework Convention on Climate Change. We have recently built another combined cycle-unit at a different facility in Cuba that is eligible for this designation. Not only does this investment provide the Cuban grid with much-needed energy for the Cuban people, but we have also received numerous carbon credits.
Energas’ electrical generating capacity is 506 MW.