GDF Suez consortium wins bid for Singapore power

GDF Suez – holding 30% in a consortium with Marubeni Corporation (30%), Kansai Electric Power Co. (15%), Kyushu Electric Power Co. (15%) and Japan Bank for International Cooperation (10%) – has taken over all of the shareholding of Temasek Holdings in Senoko Power, Singapore's largest power generator with a 30% market share.
Senoko owns and operates primarily gas-fired combined cycle plants in the northern part of Singapore with a combined capacity of 3,300 MW.
Senoko plans to utilize the liquified natural gas to be sold by British Gas and shipped through the first LNG terminal in Singapore, that will be developed, constructed and operated by PowerGas and GDF Suez.
"With its strategic location and sustained economic growth, Singapore represents a significant development potential for GDF Suez and will enable the Group to strengthen its foothold in South-East Asia, where the company already owns facilities in Thailand and Laos", said Dirk Beeuwsaert, CEO of GDF Suez Energy International.
One of the leading energy providers in the world, GDF Suez is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. GDF Suez relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 196,500 people worldwide and achieved revenues of €74,3 bln in 2007.