SE Asia: JV sets platform for power investment

SE Asia: JV sets platform for power investment

STEAG and Macquarie Capital have established a joint power development
investment platform focused on developing power and energy infrastructure
projects in Asean across Indonesia, the Philippines, Thailand and Vietnam.

Clive Turton, former Asia Pacific managing director of APR Energy and an
experienced power generation developer, will lead the joint venture.
The platform will target projects at the development phase of the
infrastructure lifecycle and will de-risk the assets through financing,
construction and commencement of operations. It aims to develop a
diversified portfolio including thermal, wind, solar, hydro and waste to
energy projects in the mid-scale segment (~50-300MW).

The joint venture expects to invest equity in excess of US$500million and is
currently in discussions with leading financial partners across the capital
structure.
Joachim Rumstadt, Steag Chairman said, "Emerging countries in Southeast Asia
are in desperate need of an increase in stable and reliable electricity
supply.

Steag is familiar with energy projects in emerging markets and this
partnership with Macquarie Capital brings together an ideal combination of
technical expertise and infrastructure financial markets experience. We
believe all stakeholders (off-takers, project developers, financial
providers and governments) will benefit from our combined capabilities."

Alex Harvey, global head of Macquarie Capital's Principal Transactions Group
and executive chairman of Macquarie Group Asia, said, "We're delighted to be
part of this joint venture with Steag, which is well-regarded as a leading
strategic power developer." John Walker, Macquarie Capital's executive
chairman of Asian Infrastructure, Utilities and Renewables added, "The
reaction from project developers and financial market partners has been very
strong to date and creates a solid foundation for the future development of
the platform."

Turton said, "It's a pleasure to be working with Steag and Macquarie Capital
to introduce a new player into the power development business in Southeast
Asia. Our work is already underway developing the pipeline and identifying
partners, and it's clear that there's a great opportunity to build a
substantial business in this region."

Steag has been actively engaged in emerging markets over the past 20 years,
including Indonesia, Philippines, India, Columbia and Turkey, and is
internationally known for the reliable production of electricity. Macquarie
Capital is a global leader in principal investments and financial advisory
activities. Steag and Macquarie Capital have worked together on numerous
infrastructure projects.

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com