Carthage Power Company

Middle East/North Africa Portfolio

Carthage Power Company

Tunisia

Carthage Power Company


General
Project company
Plant location
COD		 Carthage Power Company (“CPC”)
Radès, Tunisia
May 2002

Transaction
Financial close
BTU equity interest
Equity partner		 May 20, 2004
60%
Marubeni Power Holdings BV 40%

Project Costs & Financing
Total project cost
Debt:equity ratio
Lenders		 $260 million
70:30
BNP Paribas, UFJ Bank Limited, Japan Bank for International Cooperation

Operations
Concession
Plant capacity
Plant type
EPC
O&M
Fuel supplier
Offtaker		 Build-Own-Operate-Transfer (20 yrs)
471.3 MW
Combined cycle, gas-fired
Alstom
BTU STEAG O&M Services Company
Société Tunisienne de l’Electricité et du Gaz (20 yrs)
Société Tunisienne de l’Electricité et du Gaz (20 yrs)

Technology
2 x GE 9E gas turbines
1 x Alstom steam turbine

Investment Highlights
  • CPC is Tunisia’s first independent power project company, representing more than 20% of the national generating capacity
  • The Radès plant has demonstrated high levels of availability and efficiency since commencement of operations in 2002