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Sembcorp Industries Ltd Completes Acquisition Of Power Assets From The AES Corporation In China


Thursday, 6 Sep 2012 05:07am EDT 

Sembcorp Industries Ltd announced the completion of its acquisition of power assets in China from The AES Corporation (AES) for USD85.5 million (equivalent to approximately SGD106.7 million) following the satisfaction of conditions precedent, including approval by China‚Äôs relevant authorities. Sembcorp had earlier announced on May 7, 2012 that its wholly-owned subsidiary, Sembcorp Utilities, had signed a sale and purchase agreement with AES to acquire part of its power asset portfolio in China. The acquisition included a 49% stake in four wind power assets in Inner Mongolia and Hebei with a total gross power capacity of 247.5 megawatts, as well as a 25% stake in a co-operative joint venture for 2,100-megawatt coal-fired power plant in Shanxi. The co-operative joint venture expires in 2016. 

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15.22
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23 Jul 2014