GovernanceCARILEC Member Spotlight: POWERGEN
Power Generation Company of Trinidad and Tobago (POWERGEN)
POWERGEN was established on December 23, 1994 and is a joint venture company created out of the partial divestment of T&TEC. POWERGEN was formed to purchase the generation assets of T&TEC. Majority shareholding in POWERGEN has however been retained by T&TEC.
Ownership: In 1994, T&TEC divested its generation assets to POWERGEN, a company whose ownership structure at the time was led by T&TEC with a 51 per cent shareholding, followed by Southern Electric International with 39 per cent and Amoco with 10 per cent. T&TEC has retained its majority shareholding up to the present time, and there have been five occasions where the ownership structure changed hands, as follows: In 1998, BP Amoco replaced Amoco; in 2000, BP replaced BP Amoco; in 2001, the Mirant Corporation of the USA replaced Southern Electric International, in 2007, Marubeni Corporation replaced the Mirant Corporation and in 2013, National Enterprises Ltd Power Holdings Ltd replaced BP.
POWERGEN operates three major power generation plants at Point Lisas, Port of Spain and Penal. The largest plant is located at Point Lisas.
Their individual capacities are:
- Point Lisas : 838 MW
- Port-of-Spain : 270 MW
- Penal : 236 MW
