BACKGROUND:
CONFIDENTIAL
PROJECT
The site of Castle Peak will eventually house two power stations, developed
jointly by China Light & Poer Co (CLP) and Eastern Energy Ltd, a subsidiary
of the Exxon Corporation.
2.
burn coal or oil.
Castle Peak 'A' Station is a 4 x 35CMW station with the ability to
Contracts for the first 2 units were signed in 1978 and
for the second pair of units in 1979. There are also 4 X 60MW gas turbines.
The first 350MW unit was commissioned in February 1982 (in record time) suc-
cessfully delivering power to the system only 3 years, 8 months, after work
began. The station will be fully operational by Summer 1985. Contract value
at present day prices is £300m.
3. Castle Peak 'B' Station is a 4 x 660MW coal-fired station. The contract
was signed in August 1981. The first unit will be operational in January 1986,
and the full station by 1989/90. Contract value at present day prices is £550m.
4.
Castle Peak Transmission Project
associated with Castle Peak 'A
$ is a
new transmission network to distribute the electricity generated to the whole
of Kowloon and the New Territories. It will operate at 400KV, considerably
higher than CLP's existing network. Project value is £170m.
THE CUSTOMER
5. Castle Peak Power Co Ltd (CAPCO) is a company in Hong Kong which is owned
60% by Eastern Energy Ltd, an affiliate of Exxon Corporation, and 40% by China
Light & Power Co Ltd (CLP). CLF has an exclusive position in the distribution
of electricity to Kowloon and the New Territories of Hong Kong. Its associated
electric power generation comparies, in which the shareholding is the same as
2
CONFIDENTIAL