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The Pego Power Station in Portugal was built between 1988 and 1995 to meet the national growth in demand for electricity occurring during the 1990s and to satisfy the requirement for more diverse sources of energy. The purchase of the power plant by an international consortium in 1993 created an enormous change by introducing private sector investment in a significant part of the country’s national electrical supply system.

As owners of the power station, and holders of the necessary operating licences and consents, Tejo Energia and the Pego Project was seen as innovative and considered as a reference in electrical markets at a global level.

The Pego Power Plant also represented the first big finance project in southern Europe, involving the project shareholders and some of the largest Portuguese and international Banks. At the time, this was the largest financial transfer across European international borders and now Tejo Energia is one of the largest private companies in Portugal in terms of Assets.

The conditions were thereby ensured for Tejo Energia to meet its objective: transforming the energy in coal... into electricity.