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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Wuxi Huada Gas Turbine Electric Power Company
Project ID
3180
Fiscal year
1997
Status
Not Active
Guarantee holder
Coastal Wuxi Power, Ltd.
Investor country
Cayman Islands
Host country
China
Sector
Power
Gross exposure
 $13.5 million
Project type
Non-SIP

Coastal Wuxi Power, Ltd. (Cayman Islands), a wholly owned subsidiary of the Coastal Corporation of the United States, has invested in the construction and operation of a 40-megawatt gas turbine power plant in Jiangsu Province. MIGA issued two guarantee contracts totaling $13.5 million to cover Coastal Wuxi's equity and debt investments against the risks of expropriation, transfer restriction, and war and civil disturbance.

The project enterprise, Wuxi Huada Gas Turbine Electric Power Company, is a joint venture with two state-owned power companies. The facility is designed to alleviate a shortage of peak-hour electricity for Wuxi City's commercial users. Coastal Wuxi will train local staff in plant operation and maintenance and provide technical and managerial expertise to the project.

 
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