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Debt woes threaten Australia’s newest coal-fired power plant

first_img FacebookTwitterLinkedInEmailPrint分享The Australian:One of the major owners of the Bluewaters Power Station, Sumitomo, is understood to have hired restructuring firm Houlihan Lokey as a debt repayment deadline approaches for the asset, which owes $400m.Houlihan Lokey, which counts Australian restructuring expert Jim McKnight in its ranks, is now one of a raft of advisers around the situation.McGrath Nicol is working with the lenders, along with law firm G+T, while Japanese bank MUFG is working as the financial adviser to the Bluewaters company. Law firm Clayton Utz is also working for Sumitomo.Debt is due in August, and the challenge will be finding funding at a time that banks are shying away from coal-fired power stations.The power station, 4.5km northeast of Collie in Western Australia, was built by Griffin Energy in 2009. Owners include 50 per cent shareholder Sumitomo of Japan and Japanese power utility Kansai Electric. It has generation capacity of about 430 megawatts.Some observers say the owners may have to stump up equity to ensure it continues to operate.[Bridget Carter]More: Debt deadline nearing for Bluewaters owner Sumitomo Debt woes threaten Australia’s newest coal-fired power plantlast_img read more


first_imgWell known community activist Martin McDermott has announced his intention to run in next year’s local elections for Fianna Fáil in Inisowen. This will come as no surprise in political circles as Martin comes from a strong Fianna Fáil lineage and has been a member of the party for the past 15 years.Nominated in July by Culdaff, Malin, Malin Head and Glengad Cumann, Martin believes that a combination of his grounding and experience as a community activist, his commonsense approach and hard work ethic will serve him well in representing the people of Inishowen. The son of Mary and John McDermott, he has played a significant role in local community activities over the years and has led successful fundraising initiatives for national and local projects including the RNLI and Glengad football club.Most recently, Martin played a leading role in a campaign to save the Malin Head Coastguard Station and to preserve teacher ratios in local DEIS schools.His steadfast commitment to local community work and volunteering includes a passion for Glengad Football Club, Community Centre and Youth Club and he organises the annual Glengad Community Clean Up.Martin is the youngest of a family of 10 and has been married to Sheila for the past 12 years. They have 2 daughters Alishia who is 7 and Sophie who is 5. Although Martin has worked in Ashley Martin for the past 19 years, he also manages to play a key role on a number of voluntary management committees of local and countywide organisations such as Inishowen Development Partnership, Action Inishowen, Inishowen Tourism and Donegal County Childcare. He believes that his participation in a variety of activities across the Peninsula give him a solid grounding in the real issues impacting on people at present.Martin says “I am delighted and humbled to be put forward as candidate for my local party convention. I would like to thank all those who have placed their trust in me and encouraged me to run.“It has been both a privilege and very rewarding to be involved in a variety of local activities over the years and I would relish the challenge to bring this to a different level now by representing all members of my community on matters that are important to everyday life in Inishowen”. WELL-KNOWN INISHOWEN MAN TO RUN IN ELECTIONS was last modified: October 26th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:electionInishowenMartin McDermottlast_img read more