January 17, 2017 12:51 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of I.C. Power Asia Development Ltd.

Company Overview

I.C. Power Asia Development Ltd., through its subsidiaries, owns, develops, and operates power generation facilities in the Latin America, the Caribbean, and Israel. The company generates electricity through fuels, including natural gas, hydroelectric, heavy fuel oil, diesel, and wind. As of March 31, 2015, it had an installed capacity of 2,642 Megawatt. The company was formerly known as IC Power Ltd. The company was founded in 2007 and is based in Singapore. I.C. Power Asia Development Ltd. is a subsidiary of Kenon Holdings Ltd.

1 Temasek Avenue

No 36-01

Millenia Tower

Singapore,  039192

Singapore

Founded in 2007

1,235 Employees

Phone:

65 6351 1780

Key Executives for I.C. Power Asia Development Ltd.

Chief Executive Officer
Age: 46
Chief Financial Officer
Age: 58
Chief Operating Officer
Age: 53
Chief Technical Officer
Age: 51
General Counsel
Age: 47
Compensation as of Fiscal Year 2016.

I.C. Power Asia Development Ltd. Key Developments

I.C. Power Pte. Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

I.C. Power Pte. Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the six months, the company’s sales were $881 million against $655 million a year ago. Operating income was $111 million against $113 million a year ago. Income before taxes from continuing operations was $37 million against $60 million a year ago. Net income from continuing operations was $16 million against $35 million a year ago. Net income for the period was $16 million against $39 million a year ago. Net income attributable to equity holders of the company was $7 million against $30 million a year ago. Cash flows provided by operating activities were $55 million against $131 million a year ago. Adjusted EBITDA was $188 million against $175 million a year ago. For the quarter, the company’s sales were $459 million against $333 million a year ago. Operating income was $47 million against $57 million a year ago. Income before taxes from continuing operations was $4 million against $25 million a year ago. Net loss from continuing operations was $6 million against profit of $14 million a year ago. Net loss for the period was $6 million against profit of $14 million a year ago. Net loss attributable to equity holders of the company was $7 million against profit of $15 million a year ago. Cash flows provided by operating activities was $58 million against $87 million a year ago. Net debt was $2,624 million against $1,984 million a year ago. Capital expenditures were $125 million. Adjusted EBITDA was $88 million against $90 million a year ago.

IC Power Pte. Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

IC Power Pte. Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, sales were $336 million against $373 million last year. Operating income was $49 million against $49 million last year. Income before taxes from continuing operations was $23 million against $21 million last year. Net income from continuing operations was $13 million against $14 million last year. Net income attributable to equity holders of the company was $8 million against $129 million last year. Cash flows provided by operating activities were $133 million against $143 million last year. Adjusted EBITDA was $79 million against $108 million last year. For the nine months, sales were $991 million against $1,034 million last year. Operating income was $162 million against $217 million last year. Income before taxes from continuing operations was $83 million against $124 million last year. Net income from continuing operations was $52 million against $86 million last year. Net income attributable to equity holders of the company was $41 million against $195 million last year. Cash flows provided by operating activities were $264 million against $320 million last year. Adjusted EBITDA was $254 million against $276 million last year.

IC Power Mulls Acquisitions

IC Power Ltd. is seeking acquisitions. IC Power will use the proceeds of the IPO, along with readily available cash, for to develop greenfield projects, acquire companies or assets in the electricity sector, repay an intercompany note payable by IC Power to Kenon of up to $220 million, and for general corporate purposes.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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