Project Finance: Practical Case Studies

Project ownership

As shown in Exhibit 11.3, Quezon Power, Inc., a Cayman Islands corporation, was owned at
the time of financing by Quezon Generating Company, Ltd, a wholly owned subsidiary of
International Generating Company, Ltd (InterGen); Ogden Power Development Cayman,
Inc., a wholly owned subsidiary of Ogden Energy Group, Inc. (now Covanta Corporation);
and PMR Limited Co. (PMRL), a Philippine limited partnership.

QUEZON POWER, THE PHILIPPINES

Exhibit 11.2

Site map

Republic of the Philippines

Philippines

Sea

South China Sea

Detailed

area

Sulu Sea

Mindanao

Celebes Sea

Sampaloc

Tayabas

Lucona City

Mount

Banahaw

Generation

facility site

Mauban

Pagbilao

Pagbilao Grande

Island

Tayabas Bay

Cabalete Island

Laguna de Bay

Transmission

line route