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SINGAPORE : Temasek Holdings is releasing a second power generation company (genco) for sale.
It is now inviting bids for Senoko Power. This will be the second of three gencos that Temasek is planning to divest.
According to some estimates, the sale of Senoko Power may raise more than S$4.2 billion.
In a statement released on Monday, Temasek said it has received strong indications of interest from potential bidders.
Some investors reported to be interested include Singapore's Sembcorp Industries and India's Tata Power.
Senoko sells all of its electricity output to Singapore's wholesale electricity market - supplying some 30 per cent of the country's electricity demand last year.
In 2007, Senoko booked in earnings before tax of S$245 million and revenues of nearly S$2.5 billion.
In March this year, Temasek sold Tuas Power to China Huaneng Group for S$4.2 billion.
With the sale of Senoko, that will leave one final plant - PowerSeraya - which Temasek plans to fully divest by end-2009.
The sale is part of the government's long-term move to deregulate the country's power industry, and allow the private sector to play a larger role.
The three gencos together supply about 90 per cent of Singapore's overall power demand. - CNA/ms
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