GE and TransCanada Sell Interest in Indonesian Power Project to Tokyo Electric Power Company
11.21.05
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Simpson Thacher represented GE Capital and TransCanada Corporation in the sale to The Tokyo Electric Power Company, Inc. of a 14 percent interest in the 1,230 MW coal-fired Paiton I Power Project in East Java, Indonesia for $137 million. The Firm originally represented GE Capital in the negotiation of the joint venture, offtake, construction, fuel supply, operating and financing agreements for the project. The Firm also represented Credit Suisse First Boston in connection with the offering by the project company of $180 million of bonds under Rule 144A, one of the first project bonds in Asia. The Firm represented GE Capital in the successful restructuring of the project in 2003.
Simpson Thacher attorneys involved in the matter include: George Miller, Joel Karansky and Lisa Timmes.