AEI acquires Pakistani energy control

Mumbai, Jul 23: Energy infrastructure provider, AEI has acquired a controlling interest in Karachi, Pakistan-based DHA Cogen (DCL). Though details of the deal has not been disclosed, the acquisition which was finished on July 18 includes AEI's right to hold up to a 52.99 per cent interest in DCL, a release issued on Wednesday, July 23 stated.

DCL owns a 94-megawatt combined-cycle gas-fired power plant and Pakistan's first water desalination facility and sells all its power through a 30-year Power Purchase Agreement with Karachi Electric Supply Company. DCL's steam is used to produce three million gallons of desalinised water per day, serving approximately 1,00,000 households daily. This deal mark's AEI's foray in the Middle East, with the DCL acquisition strengthing AEI's Asian presence.

AEI had also recently acquired Luoyang Yuneng Sunshine Cogeneration in China, and gas distribution franchises through the acquisitions of Beijing based MacroLink Gas and Tongda Energy, the release added.

UNI