An £80m power project which saved about 100 Tees Valley jobs is nearing completion.

The design and construction of the Pulrose Power Station, in Douglas, on the Isle of Man, has been supported by NEL Power, of Stokesly, North Yorkshire, a company which emerged from the Enron collapse in 2001.

Following the demise of the engineering procurement and construction (EPC) contractor NEPCO, an Enron subsidiary, a special purpose company was established by the Manx Electricity Authority (MEA) to carry out the work.

NEL Power was formed as a private company by the former NEPCO directors and worked with PB Power to provide the EPC services to complete the project.

Phil Stokes, NEL managing director, said: "We have given the Pulrose Project our full attention and provided, I believe, an excellent service to the Isle of Man, which has enabled the building of a world class power plant to provide a reliable and commercially viable power supply to the island.

"At the same time, the trust given to us by the MEA, led by chief executive officer Mike Proffitt, saved over 100 jobs and has supported the development of NEL Power which now employs 125 people."