Aitken Spence eyeing more power plant deals abroad
View(s):The Aitken Spence Group (Spence), hot on the heels of renewing its power purchase agreement with the Ceylon Electricity Board (CEB) for one year through its subsidiary Ace Power Embilipitiya (Pvt) Ltd, has plans to expand in the power sector to the region, officials said. Ace Power initially won a contract to set up a 150MW plant in Bangladesh four years ago. According to officials they are still in the process of setting it up. “Also opportunities in the African region are what interests Spence,” a senior official told the Business Times. He added that the company has declared expressions of interest in the Fijian power sector.
As Aitken Spence presently conducts operations in several ports in South Africa and Mozambique, Spence is likely to scout for opportunities there, he said. He added the company is looking at other regions as well and is interested in thermal power and remain bullish about renewable energy and wind power in particular. The power purchase agreement contracted by Ace Power Embilipitiya (Pvt) Ltd, with the Ceylon Electricity Board for a period of 10 years concluded in the first week of April last year and the company recommenced generation and supply of power to the national grid recently after renegotiating this agreement. Last year the company concluded the sale of its thermal plant in Matara after the expiration of the power purchase agreement. - DEC