Jupiter Power Battambang

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Jupiter Power was a 51:49 joint venture between Maxim Power and U.S.-based Caterpillar Power Ventures International. The oil-fired C-1 station was in the capital city of Phnom Penh, and was developed in two phases. The first phase of the C-1 plant comprised ten 1.5-MW generators, which entered service in September 2000. The US$10 million project was initially financed with support from the Overseas Private Investment Corp. The renewable three-year PPA signed in late 1999 required the state power utility Electricite de Cambodge (EdC) to buy at least 60% of the capacity on a take-or-pay basis. In July of 2003, EdC agreed to extend the power purchase agreement for the C-1 plant until December 2005. In May 2002, Jupiter Power agreed to add 6 MW of capacity by December 2002 under a three-year renewable contract on the same power purchase terms as the first phase. The project entered service in December 2002 at a cost of US$2.1 million, and was wholly financed by the Caterpillar Financial Services Corp. Also pursuant to the 2003 PPA extension, EdC had agreed to the relocation of Jupiter Power's closed independent power project in Pursat to the C-1 facility. This 1-MW plant was to bring the total capacity of the C-1 facility to 22-MWs. www.maximpowercorp.com None