Suzhou Suda Cogeneration Power Plant

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This is a 76-MW gas simple-cycle power plant, operational since July 1996. The plant is owned by the joint venture Suzhou Coastal Cogeneration, formed between Coastal Power Production (60%) and various departments of the Suzhou municipal government (Suzhou Energy Corp., Suzhou Heat & Power Plant, Hi-Tech New Development). A second phase expansion to 100-MW and an upgrade to combined-cycle is planned. In its fiscal year 1998, MIGA issued a guarantee contract for $17.6 million to cover Coastal Suzhou Power Ltd.'s equity and debt investments in Suzhou Coastal Cogeneration Power Plant against the risks of expropriation, transfer restriction, and war and civil disturbance. In 1999, an additional US$ 10.8 million guarantee was issued by MIGA. In 2001, El Paso Corporation acquired Coastal Power along with Coastal's 60% stake in Suzhou Coastal Cogeneration Power Plant. In 2005, El Paso Corporation sold its investments in power plants in China to GP China Limited, a subsidiary of Malaysian Genting Group. None None