Cogentrix departs India Power Project

  • 23/01/2000

  • Asian Wall Street Journal (Hong Kong)

Cogentrix Energy Inc, of the U.S. has quit India, handing over a stalled $1.3 billion power project to HongKong parter CLP Holdings Ltd., which plans to develop the venture with an Indian partner. Saturday's decision marks the latest twist in the seven-year saga to build the 1,000-megawatt plant in southern India and reveals differences between the relatively young, small U.S. company and one of the most experienced power developers in Asia.