Thursday, December 9, 2010

How much is BTU Power's portfolio worth? Another investor's experience can tell us: Pendekar Power ("Powertek BHD") acquisition of stake in Taweelah Asia Power Company

In the website of another of the consortium partners involved in the Taweelah Asia Power Company project there is a significantly more detailed and informative description of the scope of the investment in TAPCO. In section 2.1 of the Media Centre "General Announcement - Investment In The Taweelah B IWPP, Abu Dhabi" web posting of Tanjong, the parent company of Pendekar Power, the investment in TAPCO is described as follows:

2.1 Proposed Investment
"Pendekar Power's investment, based on its effective interest of 10% of the Project, will amount up to US$55.0 million....."

One could justifiably assume that all consortium partners would invest on an "equal basis," that is, they would pay the same amount for the same number of shares in the project company.  The corollary to the previous statement is that BTU Power's investment amount in TAPCO is probably the same as Pendekar Power's.

Link: Investment In The Taweelah B IWPP, Abu Dhabi

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