HOUSTON, April 26 /CNW/ - Ashmore Energy International ("AEI") announced
today that it is opening an office in Hong Kong under the name of AEI Asia.
The expansion will enable the Company to invest in the tremendous growth in
energy demand and need for new energy infrastructure projects throughout the
entire Asia region. The Company plans to both acquire and develop new energy
infrastructure assets in the power generation, power distribution and natural
gas services sectors to expand AEI's current business lines into Asia.
AEI has hired an experienced local executive management team, headed by
Colin Tam who will serve as the Company's Asia-Pacific Regional Head
responsible for leading AEI's overall business operations in Asia reporting
directly to AEI's CEO, Brent de Jong and will serve as a member of AEI's
executive management team. The other members of the Hong Kong team moving to
AEI Asia will be: Eric d'Esparbes - who will serve as CFO of AEI Asia; Samson
Ng Shung Lai - who will serve as Senior Vice President of Business Development
of AEI Asia; Alan Chan - who will serve as President and Chief Operating
Officer of AEI Asia; and 4 other senior executives. The local management team
members will commence employment with AEI Asia immediately upon finishing
their notice periods.
AEI is evaluating a number of growth opportunities in Asia and adding
experienced leadership that is already based in the region will allow AEI to
execute, assimilate and operate new projects on a more effective basis.
The Company currently owns and operates a 116 MW thermal power plant in
the Philippines and through its predecessor, has been active in Asia for
several years. The move represents the next step in AEI's strategic plan to
focus on expanding its current business into emerging markets in new regions
around the world. AEI has global resources, experience and expertise that when
combined with new local management, will allow the Company to rapidly become a
key player in the expanding Asia energy market.
Colin Tam is the founder, Chairman and CEO of Meya Power Company Limited.
He is also the co-founder and Chairman of Independent Power Producers Forum
Mr. Tam has over 30 years of experience in the power business both in the
United States and Asia. During his career, he has held several senior
positions in various influential national organizations within the power
industry in the US. He is currently Chairman of Energy Committee of the
American Chamber of Commerce in Hong Kong, Standing Director of the National
China Investment Association and Vice Chairman of its Foreign Investors
AEI owns and operates essential energy infrastructure in emerging
markets. AEI manages interests in a group of 19 energy assets (27 assets
including Promigas' subsidiaries) with operations in 14 countries and more
than USD 2.5 billion in revenues (pro forma) and 9,800 employees. The Company
serves approximately 8 million customers worldwide by operating through three
business segments: Natural Gas Distribution, Transportation and Services;
Power Distribution; and Power Generation with approximately 37,000 km of gas
and liquids pipelines, 120,000 km of power transmission and distribution
lines, and a gross installed capacity of 1,675 MW. You can visit the AEI
website at www.ashmoreenergy.com.
For further information:
For further information: AEI Services LLC, Houston Rodrigo Silva,