CLP to sell EGCO interest to Mitsubishi

CLP agreed to sell its 13.36 per cent interest in EGCO to a Mitsubishi subsidiary for US$273 million.

Mitsubishi agreed at the same time to sell 50 per cent of its subsidiary that holds the Electricity Generating Public Company shares to Tokyo Electric Power Company.

Meanwhile, OneEnergy Limited, the vehicle through which CLP Group holds its investments in Southeast Asia and Taiwan, will be reorganised to become a wholly owned subsidiary of CLP. CLP’s remaining joint venture interests with Mitsubishi remain unchanged, with CLP Group continuing to hold a 20 per cent interest in the 1,320 MW Ho Ping Power Company in Taiwan and a 33 per cent interest in the 55 MW Solar Project in Thailand. The joint ventures by CLP and Mitsubishi to develop two coal fired projects in Vietnam also continue unchanged.