Todd Pacific Shipyards Launches Margarita

Todd Pacific Shipyards launched Margarita, a 70 mw power barge, that will provide Nicaraguan communities with much needed electricity. In the wake of devastation from Hurricane Mitch, many communities in Nicaragua do not have basic services and still suffer enormous public health challenges. Todd built Margarita for MAN B&W Diesel of Augsberg, Germany. MAN is building the vessel for Empresa Energetica de Corinto, Ltd., a consortium of Enron International of Houston and Centrans International of Guatemala. Margarita is the result of a 15-year power purchase agreement entered into by the consortium in July 1998. The power plant's capacity will represent 15 percent of Nicaragua's electricity generation. Todd and MAN will send the barge to Nicaragua upon completion in April of 1999, with commercial operation scheduled to commence in June 1999. Margarita is one of the few vessels built in the U.S. for a foreign owner. The floating power plant is 206 ft. in length and 104 ft. wide and is a direct result of Todd's marketing efforts to secure new construction taking advantage of the federal MARITECH program, the company's ISO 9001 status and MarAd financing.