ELSTA shortlists
The Asia-oriented marketing of financial adviser Royal Bank of Scotland in the sale of AES's 50% stake in the ELSTA Dow 630MW CCGT has paid off, with Marubeni and two Middle Eastern IPPs said to have made the cut alongside International Power and Intergen. Final bids are due by mid-February. The project is owned by Delta (25%) and Essent (25%), which are said to have plans for a 300MW expansion. In 1996, ABN AMRO and ING led the 22.5-year financing of the plant, to which the EIB also contributed.
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