Malaysian company Tanjong has said it is going to acquire seven power plant assets located in Pakistan, Egypt, Bangladesh and Sri Lanka from CDC Globeleq Holdings Limited for 493 million dollars.
In a statement here on Monday, the company said its 55 percent-owned unit Pendekar Energy Limited had entered into a conditional share purchase agreement with the CDC Globeleq Holdings Limited for the planned acquisitions. The power plants have a total effective installed capacity of 1,434-megawatt, according to the statement. The plants were governed by power purchase agreements, which would expire between 2012 and 2029, said Tanjong.