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DESTEC ENERGY JOINS TEXACO IN OWNERSHIP OF NEVADA COGENERATION FACILITY

 LOS ANGELES, Oct. 26 /PRNewswire/ -- Texaco Inc. (NYSE: TX) and Destec Energy, Inc. (NYSE: ENG) announced today that Destec has purchased from Texaco a 50 percent interest in the 85 megawatt natural gas-fueled Black Mountain cogeneration facility located near Las Vegas. Prior to the transaction with Destec, Texaco units held a 100 percent interest in the facility.
 The cogeneration facility, which began operation in January, 1993, provides electricity to Nevada Power Company and thermal energy to the adjacent Pacific Coast Building Products Inc. wallboard manufacturing plant.
 "We are very pleased with the cogeneration partnership with Destec and consider it an important alliance," said David C. Crikelair, vice president of Texaco Inc. and head of Texaco's Alternate Energy group. "In addition, Destec and Texaco Cogeneration and Power Company agreed to explore joint development of additional natural gas cogeneration projects in select U.S. markets."
 "Destec is pleased to be associated with Texaco in the ownership of the Black Mountain facility, which we hope will be the first of many projects with Texaco," said Charles F. Goff, Destec president and chief executive officer. "This is our first project in Nevada, which is an area known to have good growth potential."
 Texaco's Alternate Energy group directs the company's initiatives in the global electric power market, developing, owning and operating cogeneration facilities as well as providing technology. Texaco has interests in nine cogeneration facilities located in California, Nevada and Washington, generating approximately 1,100 megawatts (MW) of electricity and five million pounds per hour of steam. Texaco also licenses gasification technology for the production of syngas. Texaco has recently licensed its gasification technology for use in facilities that will generate over 1,500 MW of electricity.
 Destec, a major independent power company based in Houston, develops, builds, owns and operates gas-fired power generation facilities that produce and sell electrical and thermal energy, as well as facilities that manufacture synthetic fuel gas for use in energy production. Including the Black Mountain facility, Destec has interests in 14 operating projects with a total rated equivalent capacity of approximately 1,480 MW of electricity and over two million pounds-per-hour of steam. Destec presently has four facilities, representing approximately 1,200 MW of equivalent capacity, under construction. In addition, Destec currently markets more than 425 MW of electricity cogenerated by The Dow Chemical Company.
 Terms of the transaction are not disclosed.
 -0- 10/26/93
 /CONTACT: Chris Gidez, 914-253-6170, or Kelly McAndrew, 818-505-2657, both of Texaco Inc./
 (ENG TX)


CO: Texaco Inc.; Destec Energy, Inc. ST: California, Nevada IN: OIL SU:

TS -- NY066 -- 6786 10/26/93 12:43 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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