Tongzhou Meiya Cogeneration Company Ltd.

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Tongzhou Meiya Cogeneration Company Ltd. is a sino-foreign joint venture company created to build, own and operate a 30 MW coal fired cogeneration power plant. The company was owned by Community Energy Alternatives (80%) and Tongzhou Energy Company (20%). Community Energy Alternatives was an affiliate of PSEG Global, and in 1995 formed a 50-50 joint venture with the Asian Infrastructure Fund (AIF) to develop projects in China. The new company was called Meiya Power Co. Ltd. (MPC), and was based in Hong Kong. MPC was jointly owned by PSEG Global Inc (50%), the Asian Infrastructure Fund (30%), and Hydro-Quebec International (20%). In July 2004, Darby Asia Investors, Ltd. ("DAI"), acquired Hydro-Quebec's 20% stake for a total cash consideration of US$84.6 million. The construction started in June 1997 and commercial operations was expected by the end of 1998. The developers did not provide any cost information. The power plant will supply electricity and approximately 700 tons of steam per year to industrial and commercial users in the city an the Shaghai Tongzhou City Development Zone.