Sale Of Contact EnergyState Owned Enterprises
Let me underline what Bill Birch has said. The Government is delighted to be able to make this announcement today. Okay, so who is this company, Edison Mission Energy?
They are a US-based power company. They specialise in the development, acquisition, construction management and operation of global power production facilities.
As one of the world's leading global power producers, Edison Mission Energy's investments include 48 projects currently operating in Australia, Spain, the United Kingdom and the U.S. and five plants under construction in Indonesia, Italy, Thailand, Turkey and the U.S. (Puerto Rico).
In total, these projects represent nearly 13,400 megawatts of generation capacity, comprising:
11,273 MW thermal plant fuelled by gas, oil and coal
2,174 MW hydro-electric, and
1 MW geothermal plant.
Edison Mission Energy currently owns 3,724 MW of plant in its international portfolio. Of this, 83 percent is traded in competitive electricity markets.
Edison Mission Energy currently participates in the UK market through its 2,088 MW First Hydro project and in the Australian National Electricity Market with its 1,000 MW Loy Yang B plant.
Edison Mission Energy operates 35 plants in the United States, the United Kingdom, Spain, and Australia. This represents a total capacity of 5,121 MW.
Edison Mission Energy has also received ISO 9001 Quality certification and ISO 14000 Environmental certification at its Australian operations.
Edison Mission Energy's ultimate parent company is Edison International, a California corporation with nearly NZ$47 billion in assets.
Edison International specialises in energy production, distribution, research and technology, capital financing and the marketing of consumer products and services.
Headquartered in Rosemead, California, Edison International is also the parent company of Southern California Edison (one of the largest electricity utilities in the United States), Edison Enterprises , Edison Capital and Edison Mission Energy .
Edison Mission Energy will hold its investment in Contact Energy through Edison Mission Energy Taupo Limited , an indirect subsidiary of Edison Mission Energy.