• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Anil Sasi

New businesses not on the block

Advertisement

New Delhi Feb. 7 Globeleq, the lead developer for the Sasan power project, has said that it does not have any plan to sell stake in power projects that are under development, such as the Sasan Ultra Mega project.

"Actis, the emerging markets fund manager who manages CDC's investment in Globeleq, decided, based on advice from Lehman Brothers investment bank, to offer all of Globeleq's operating power businesses in Africa, the Americas and Asia for sale. Globeleq's new business development efforts in all our markets are not included in the global asset sale process," Mr Stephen B. Morisseau, Vice President, Corporate Affairs of Globeleq told Business Line.

UK's CDC Group-owned Globeleq is an operating power company solely focused on safely providing more reliable power in the emerging markets of Africa, the Americas, and Asia. Globeleq along with its partner Lanco Infratech had recently won the 4000-MW Sasan ultra mega power project quoting a tariff rate of Rs 1.196 per unit. The Centre in January awarded the letter of intent to the consortium and the last date for the submission of the letter of acceptance is February 28. Globeleq owns 70 per cent equity in the project, while Lanco Infratech holds the remaining 30 per cent.

With assets valued at over $1.5 billion, Globeleq has investments in 19 power companies in 16 countries with a total of more than 4,500 MW in generation capacity.

More Stories on : Power

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rainy weekend forecast for North, northwest

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line