Esperanza Power Barge

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Esperanza Power Barge was a joint venture between Enron (50%) and Centrans (50%). Enron was to operate the plant and serve as fuel supplier. The diesel-fired power plant was to operate as a merchant facility and was to provide power to the Central America region. The construction works started in June 1999, and the power barge arrived in Guatemala in April 2000. Commercial operations started in July 2000. OPIC provided a US$50 million financing package for the project to PQPLLC in March 2000. In November 2000, Globeleq, the power sector subsidiary of the Commonwealth Development Corporation (UK), acquired 25% of PQP's shares from Enron and Centrans, which then held 37.5% of the company's shares each. In 2003, Prisma Energy International Inc. was created as a holding company to, through its subsidiary Prisma Energy International Services LLC, provide management and operational support for the remaining major international assets owned by the bankrupt Enron, including Esperanza Power Barge. The company was created after Enron's board and creditors decided the Enron estate would raise more revenues from ongoing operations than through individual asset sales. Once the Enron bankruptcy was concluded, Prisma was to be owned by Enron's creditors. They were likely to sell their positions as soon as market conditions allow. As of 2005, Enron still had a stake of 37.5% through Prisma. As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. http://www.prismaenergy.com/businesses/map/americas.html http://www.enron.com/corp/pressroom/icoassets.html Sponsor change: Globeleq sold its stake to a consortium of DS Constructions Limited (India) and Israel Corporation Limited for US $542 million on June 19, 2007. Given its minority stake in this project it was to abide by addtional closing conditions. None