2008

Execution of Share Purchase Agreement with Temasek - Acquisition of Singapore's largest power generation company -

Sep. 5. 2008
Marubeni Corporation、The Kansai Electric Power Co., Inc.、Kyushu Electric Power Co., Inc.、Japan Bank for International Cooperation


The consortium comprised of Marubeni Corporation (Headquarters: Chiyoda-ku, Tokyo, President and CEO: Mr. Teruo Asada), The Kansai Electric Power Co., Inc. (Headquarters: Kita-ku, Osaka, President: Mr. Shosuke Mori), Kyushu Electric Power Co., Inc. (Headquarters: Chuo-ku, Fukuoka, President: Mr. Toshio Manabe), Japan Bank for International Cooperation (Headquarters: Chiyoda-ku, Tokyo, Governor: Mr. Koji Tanami) and GDF Suez S.A. (Headquarters: Paris, France, Chairman and CEO: Mr. Gerard Mestrallet) (jointly the “Consortium”) has reached the agreement with Temasek Holdings (Private) Limited (“Temasek”) to acquire all the shares of Senoko Power Limited (“SPL”) today.

SPL is located in the Northern part of Singapore, and is the largest power generation company in the country. SPL owns and operates total generation capacity of 3,300MW, which constitutes about 32% of installed generation capacity in Singapore. Electricity generated by SPL is mainly supplied to customers through its wholly owned retail providers.

By participation to this acquisition, the Consortium will gain stable profit through  electricity sales in Singapore, a worthwhile market as a foundation of overseas projects in Asia, and where expansion of electricity demand accordingly with stable economic growth is continuously expected. Furthermore, by providing electricity supply after the acquisition, and by energy streamlining through the repowering operation, this acquisition would be a foothold for each of the private enterprises to further develop overseas investment business, together with contributing to the development of power project as an essential infrastructure in the country.

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