Edison Mission Energy sells 30% of Kwinana cogen plant
Edison Mission Energy, an Edison International company, recently sold a 30% interest in its Kwinana cogeneration plant to SembCorp Energy, a subsidiary of Singapore-based SembCorp Industries.
Kwinana—a 116 MW gas-fired cogeneration facility—is at a BP Amoco oil refinery near Perth, Australia. Edison Mission Energy plans to retain the other 70% ownership interest in the plant.
The transaction, said Robert M. Edgell, president of Edison Mission Energy Asia Pacific, establishes a strategic relationship between Edison Mission Energy and SembCorp Industries. Edison Mission Energy and SembCorp Industries anticipate further joint-efforts to develop, own and operate electric power infrastructure projects in the Asia Pacific region.
"We are looking forward to building our strategic partnership, which combines one of Asia's foremost integrated services companies with one of the world's premier developers, owners and operators of global power facilities," Edgell said.
Formed in 1998 through the merger of Sembawang Corporation and Singapore Technologies Industrial Corporation, SembCorp Industries maintains core businesses in infrastructure, marine engineering, and Internet services. SembCorp Industries operates the largest and most profitable engineering and construction business in Southeast Asia, including construction of a diverse range of power projects.
Edison Mission Energy specializes in the development, acquisition, construction management and operation of global power production facilities. Edison Mission Energy owns about 23,000 MW of generating capacity, including interests in more than 75 projects currently operating or under construction in Australia, Indonesia, Italy, New Zealand, Spain, Thailand, Turkey, the United Kingdom and the United States.
Based in Rosemead, CA, Edison International ranks as a top electric power generator, distributor and structured finance provider. With assets of US$36 billion and a portfolio of about 28,000 MW, Edison International is an industry leader in privatized, deregulated and incentive-regulated markets and power generation. It is the parent company of Southern California Edison, Edison Mission Energy, Edison Capital and Edison Enterprises.
Edited by April C. Murelio
Managing Editor, Power Online