Mitsui & Co., Ltd. ("Mitsui") and International Power plc ("IPR"), a major power generation company in the United Kingdom, have agreed to participate in an additional investment of US$315 million in IPM Eagle LLP ("IPM Eagle", head office: UK) and IPM Eagle resolved its increase in capital at its board meeting on January 20 (local time in the UK).
Mitsui's additional investment through its subsidiary is US$95 million (JPY7.7 billion), with total investment amount of US$315 million (JPY30.6 billion). IPM Eagle will allocate this increased capital to repay the non-recourse loan procured for the acquisition of power generating assets from Edison Mission Energy (USA) in December 2004.
Mitsui continues to support the management of each power plant under IPM Eagle.
IPM Eagle assets list (as of January, 2011)
Please scroll horizontally to look at table below.
|Name||Country||Type||Capacity||Mitsui Share||Mitsui share capacity|
|ISAB Energy Solare||Italy||PV||1MW||14.7%||0.15MW|
|Loy Yang B||Australia||Coal fired||1,026MW||30.0%||308MW|
|Paiton 3*||Indonesia||Coal fired||815MW||13.4%||109MW|
* Mitsui has another 36.3% equity interests in Paiton and Paiton 3 through other entities.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
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