Buren advises Sojitz Corporation on the acquisition of a 90% equity interest in AES Kelanitissa Private Limited from The AES Corporation, a major US power company, through its Dutch subsidiary AES Beauvior B.V. AES Kelanitissa owns and operates a 163 megawatt combined-cycle power plant on the outskirts of Colombo, Sri Lanka.
Sojitz has been a major shareholder in Asia Power Private Limited, another IPP project company in Sri Lanka, since it started operation of a 50 megawatt thermal power plant in 1998, and AES Kelanitissa is Sojitz's second IPP project in the country. This acquisition expands the sole IPP business owned by a Japanese company in Sri Lanka and will contribute to the stable supply of electricity in Sri Lanka, covering roughly 7% (2,000 megawatts) of peak demand for the country's population of nearly 21 million people.
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