Gridlock
Article Abstract:
Threats from Indonesia's PLN utility to cancel the Tanjung Jati-B power plant that Consolidated Electric Power Asia was planning add to CEPA head Gordon Wu's problems. The 1320-megawatt plant is stalled over land agreements, and CEPA is shopping for buyers to reduce its 100% equity stake to 65%. Indonesia, running at 50% or more overcapacity in Java, feels little pressure. CEPA also will not complete its Shajiao-C power station ahead of time, and cannot get its Pagbilao station hooked to the power grid.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Peaked capacity
Article Abstract:
Hopewell Holdings, the main operation of Asian businessman Gordon Wu, is to sell most of its 60.4% stake in Consolidated Electric Power Asia (Cepa) to US utility Southern Co. Cepa will delist later in 1996 from the Hong Kong stock market, and Wu will become executive chairman of the company, subject to approval from shareholders. Some observers believe that this will give Cepa a more stable background, but point out that the sale eliminates hopes that Wu would become a key independent power producer.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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