17 October 2002 – Belgian utility Electrabel has been chosen as partner to Spanish paper and chemicals company Sniace in building an 800 MW combined cycle power plant.

Sniace said Electrabel was one of two finalists to have presented binding offers. The financial terms agreed in the Memorandum of Understanding signed by the two parties were not disclosed.

The other finalist was Global 3 Energia, a consortium made up of Walter Oil and Gas Corporation, EuroWalter Power B.V. and Arelight Energy Partners Fund I, L.P.