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 (IPPF).
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 Committee.
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.
