Asian Energy Advisors

Reuters reports today that Mirant is raising $1.2 billion in foreign financing for their Sual and Pagbilao plants in the Philippines.

Hmmmm … I knew something was up. My phone has been ringing for the past week - callers from New York.

Reuters reports (for whatever that’s worth) that this represents half the estimated asset value.

$1.2 billion x 2 divided by 1935 MW ==> $1,240/kW

Interesting valuation.