Zhejiang Wenzhou Telluride Power Generating Company

cancelled

The Wenzhou project was developed by the state-owned Zhejiang Wenzhou Telluride Power Generating Company, which originally comprised the local Zhejiang Power (30%) and Wenzhou Power Investment (30%) with Sithe China (20%) and the US's Oxbow Power (20%). Sithe China's shareholders were Sithe Energies, Inc. (39%), AIG Asian Infrastructure Fund (30.5%), and Government of Singapore Investment Corp. (30.5%). Sithe Energies was in turn majority-owned by France's Vivendi Universal, with Japan's Marubeni Corp. holding a 29.5% stake. Oxbow Power sold its equity in the project to Sithe China in 2000. According to the terms of the award, the partnership was responsible for building the Zhejiang power project to be sited adjacent Wenzhou and to sell produced electricity to the Zhejiang province electricity company for 20 years. The coal-fired power station had an installed generating capacity of 600 MW. The cost to build the new facility was pegged at US$415 million. The project was slated for completion in 2001. In February 2003, Sithe China sold it stake in the Wenzhou plant, along with three other projects, to state-owned China Resources Power. None None