Nanjing Coastal Xingang Power Plant

Coastal Nanjing Power, Ltd. of the Cayman Islands will develop, construct, and operate a 76-megawatt gas-turbine-diesel power plant in Nanjing City, the economic, social, and cultural center of Jiangsu Province. MIGA insurance of $20.7 million will cover Coastal's $22.9 million investment against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project enterprise, Nanjing Coastal Xingang Cogeneration Power Plant, will alleviate the acute power shortages experienced by the city caused by its fast economic growth and limited installed energy capacity. A reliable power supply during peak periods will help to attract companies to Nanjing's industrial zone.

It is estimated that 90 percent of the goods and services to construct the plant will be purchased locally. Local staff will receive on-site training in gas turbine installation and testing, startup and operation of the power plant.