The PSEG subsidiary PSEG Americas has pulled out of the Termo Santander de Colombia power plant project. The company is exercising an option to return its 50 per cent interest in the plant to Amoco Power Resources Holding Co.
The move resulted from the inability of the Opon gas field, 200 km north of Bogota, to supply sufficient gas to feed the plant. The wellhead project was developed by Amoco Power Resources, and PSEG bought its share in March 1997.
Meanwhile the Meiya Power Co (MPC) has bought three Chinese power projects in various states of construction from PSEG Asia. The total capital value of the projects is $146 million.
The three projects are a 30 MWe pulverized coal-fired cogeneration plant in Jiangsu Province, a 72 MWe hydropower projects along the Zuojiang river in Guangxi which is expected to start operating in April 1999 and a 50 MWe scheme in the Shanghai area which is awaiting final approval.
MPC, established in 1995, is a 50:50 joint venture between PSEG Asia and the Asian Infrastructure Fund. It already has two operating plants in China.