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Commission Decision No. 11-M-069/2016 and 070/2016 Acquisition by Therma Power, Inc. of interests in GNPower Mariveles Coal Plant Ltd. Co. and GNPower Dinginin Ltd. Co. M-069/2016 and M-070/2016
Acquisition by Therma Power, Inc. of ownership interest in GNPower Mariveles Coal Plant Ltd. Co. (“GMCP”) M-069/2016
Abstract:
The proposed transaction involves the acquisition of an indirect ownership interest by Therma Power Inc. (the “Acquirer”) in a power generation project in the Philippines – GNPower Mariveles Coal Plant Ltd. Co. (“GMCP”) through the purchase of 100% of the limited partnership interests in World Power Holdings, L.P., a Cayman Islands exempted limited partnership (“WPH”), and 100% of the issued share capital in World Power Holdings GP, Ltd., a Cayman Islands exempted company (“WPH GP”).
Blackstone SGP Capital Partners (Cayman) IV L.P., Blackstone SGP Capital Partners (Cayman) IV-A L.P., Blackstone SGP Family Investment Partnership (Cayman) IV-A L.P., Blackstone SGP Participation Partnership (Cayman) IV L.P., Blackstone SGP Family Investment Partnership (Cayman) IV-A SMD L.P., Herakles Energy Investors, LLC, and Sumar Investments LLC (collectively, the “Sellers”) are the sellers in the Proposed Transaction.
The Sellers will transfer their collective 100% interest in WPH and WPH GP, as applicable, to the Acquirer, indirectly transferring an ultimate 66.1% interest in GMCP.
Acquisition by Therma Power, Inc. of ownership interest in GNPower Dinginin Ltd. Co. (“GNPD”) M-070/2016
Abstract:
The proposed transaction involves the acquisition of an indirect ownership interest by Therma Power Inc. (the “Acquirer”) in GNPower Dinginin Ltd. Co. (“GNPD”). GNPD is developing a 2x668MW net supercritical coal-fired power project, the first unit of which is currently under construction and is expected to commence commercial operations in 2019.
The proposed transaction will take place through the purchase of 100% of the limited partnership interests in SIthe Global Power, L.P. (“SGP”) and 100% of the issued share capital in Sithe Global Power GP, Ltd. (“Sithe GP”), the general partner of SGP.
Blackstone Capital Partners (Cayman) VI L.P.; Blackstone Family Investment Partnership (Cayman) VI-ESC L.P.; Blackstone Family Investment Partnership (Cayman) VI L.P.; Blackstone Energy Partners (Cayman) L.P.; Blackstone Energy Family Investment Partnership (Cayman) L.P., Blackstone Energy Family Investment Partnership (Cayman) ESC L.P., a Blackstone Energy Family Investment Partnership (Cayman) SMD L.P., Blackstone Management Associates (Cayman) VI L.P., Blackstone Energy Management Associates (Cayman) L.P., Sumar Investments LLC and Katsura Capital LLC (collectively, the “Sellers”) are the sellers in the Proposed Transaction.
The Sellers will sell their collective 100% interest in SGP and Sithe GP, as applicable, to the Acquirer, indirectly transferring an ultimate 40% interest in GNPD.