Power project development activity in a slow power sector reform environment fails to spur closings in India

During 1995, a record 200 project and privatization closings took place in the international market valued at close to $49 billion, almost double the $27 billion racked up in 1994. However, much of this rise was the increase in distribution system privatization. Worldwide greenfield generation projects, affected by Dabhol, displayed a slower than forecast rate of closure. Recently, there has been an exponential rise in generation project financing. While much of this activity is in Asia, Philippines and Pakistan continue to dominate the list of closings. Indonesia and Thailand are promising markets as well.