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Thai Glow to take 67% stake in Lao’s power plant


September 16, 2008

Thai Glow to take 67% stake in Lao’s power plant
Thailand's Glow Energy, a unit of French utility Suez SA, said on Monday its board had approved plans to buy a 67.25 percent stake in a Lao power plant for $45 million, Reuters reported.

A subsidiary of Glow Energy will buy the stake in the Houay Ho plant from Stopper Finance B.V. and Suez-Energy Asia Co, which are subsidiaries of Suez-Tractebel, Glow Energy said in a statement.

The 152-MW Houay Ho hydropower plant has paid-up capital of $50 million and has a 30-year contract with the Lao government. Most of its power is sold to Thailand.

The purchase in Laos should help boost Glow Energy's net profit by 3 percent this year, finance chief Suthiwong Kongsiri has said.

Glow has the capacity to produce 1,708 MW of power, or 7 percent of Thailand's capacity, and 967 tonnes per hour of steam for industrial customers. It plans to boost power capacity by 50 percent by 2011 to meet rising demand.

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