May 29, 2007 (LBO) – Globeleq, a unit of CDC investment group which is raising a billion dollars by selling power sector assets in Sri Lanka and other countries, says it is looking for new projects. “This is excellent news for emerging markets. Greater access to reliable energy continues to be a high priority for sustainable economic development,” Richard Laing, CEO of CDC Group said in a statement.
“As a fund of funds investor in emerging economies, CDC is committed to this sector and will continue to invest its capital in this area.”
Globeleq said it was selling its Latin American power investments to D.S Constructions of India and Israel Corporation.
The North Africa and Asia power investments, which include Sri Lanka, Pakistan, India and Egypt, were being sold to a consortium of Aljomaih of Saudi Arabia and Tanjong of Malaysia.
The two transactions are valued at just over one billion dollars.
“These transactions validate the strategy we have implemented since the founding of Globeleq,” Globeleq CEO Torbjorn Caesar said.
“These sales advance our plans to continue adding generation capacity to meet rising demand for more reliable power in the emer