Eesti Energia hopes to sell the majority of the Jordanian project in 2012
Juhan Tere
baltic-course.com
Estonian state-owned energy giant Eesti Energia wants to complete the Jordanian oil shale consuming power station procurement and find investors before the end of the year 2012, LETA/Postimees Online reports.
After that, the share of Eesti Energia in the Jordanian project will decrease to around 10%, Eesti Energia finance director Margus Kaasik told the press on Monday.
Eesti Energia plans a 900 MW power station in Jordan. Last year Eesti Energia sold a 11% stake in the Jordanian project and included two investors. Currently Eesti Energia has a two thirds stake in the project. 30% of the project belongs to Malaysian company YTL Power International Berhad and 5% to Near East Investment.
"We read from papers that we take from home consumers and take to Jordan while actually it is vice versa: we reap the profits from the free market and invest it in Estonia," said Eesti Energia board chairman Sandor Liive.
