11/29/2016STEAG and Macquarie found joint investment platform for energy projects in South East Asia

Joint Venture founded in Singapore // Project development and investment in energy projects in South East Asia // Talks commenced on attracting investment capital


Essen. STEAG and the Australian financial services provider Macquarie are strengthening their activities in South East Asia. For that purpose, the two partners have founded a joint development and investment platform which is intended to design, construct and operate energy projects in South East Asia, predominantly in Indonesia, the Philippines, Malaysia and Thailand. Clive Turton, the former director of APR Energy responsible for the Asia-Pacific region, has been appointed CEO of the platform.

The joint venture, trading under the name of Asia Power Development Platform Joint Venture Pte. Ltd. (APDP-JV), will handle the entire value chain of project development and implementation, i.e. from the design, financing and construction to operation of power plant projects for external investors in such a way as to minimize risks. The technological focus is on gas, coal, wind, solar, hydro and waste to energy in the medium capacity segment (50 – 300 MW). Around 500 million US dollars in equity capital is to be invested. A number of talks with prominent finance partners are currently taking place.

“In the South East Asian region there are many emerging countries with a large or growing demand for energy infrastructure and reliable power supplies,” as Joachim Rumstadt, Chairman of the Board of Management of STEAG GmbH, explains. “STEAG is familiar with power plant projects in upwardly striving countries like these. A joint platform with a partner like Macquarie which has the know-how in collecting investment capital is therefore an excellent constellation for us, leading to successful projects in the region. All those involved – developers, electricity customers, investors and governments – will benefit from this merger of knowledge and skills.”

Alex Harvey, Chairman of Macquarie Capital’s Principal Transactions Group and Executive Chairman of Macquarie Asia, adds, “We are very pleased to have entered into this joint venture with STEAG, a power plant developer held in high regard.” John Walker, Macquarie Capital’s Executive Chairman for infrastructure, power supply and renewables in Asia, comments as follows: “The feedback from the market, on both the project and the financing side, is extraordinarily good and encouraging. We have created an excellent foundation for the successful continuation of our commitment.” For the CEO of the new company, Clive Turton, it is “a pleasure to establish this new player on the energy market in South East Asia together with STEAG and Macquarie Capital. The first steps have already been taken, and it is becoming ever clearer that there are outstanding opportunities for expansion of the business in South East Asia.”

STEAG has been a successful majority investor in coal fired power plants in Colombia since 1999, in Turkey since 2003 and in the Philippines since 2006. With its know-how, STEAG stands for reliable power generation across the globe. STEAG has already worked with Macquarie on various projects for many years.


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