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Islamic Finance Briefing - Categorized | Finance, Market Moves more

AES sells Islamic assets, just in time

Posted on 20 August 2010

From Reuters: US based power plant developer AES has completed the sale of its Islamic power plant assets, held jointly with the Islamic Development Bank Infrastructure Fund under the name AES Oasis, by selling a 58% stake in the Barka 1 456MW power and water plant in Oman to Saudi company Acwapower for US$200m.
Three of the four plants in the Oasis portfolio have now been sold, including the 650MW Lal Pir and PakGen assets in Pakistan, which were sold to local investors led by Nishat Mills for US$117m in June. The assets have been badly hit by the recent flooding in the country……………………………………….Full Article: Source

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