LR Groups plans to take over PNG Power







PNGBlogs

More on LR Group that may be helpful. see the attachments. Note that in the JV Offer for execution, LR wanted to own all PPL assets, starting with at least 50% of the Special Purpose Vehicle to be created to hold PPL assets and will operate and manage them. Its A take-over of PPL by stealth, and that will be what they still want.

Secondly, LR did a report for IPBC in 2011, which analysed the power problems in POM and proposed an investment plan. At no point was it suggested that the solution was new diesel turbines, because everyone knows that they are not cost effective and don't address the core challenges of providing cheap reliable base load from hydro and getting power from turbines to customers without losing too much on the way. The
focus was therefore on remedial action to fix up hydro power at Rouna, putting in place a proper maintenance program for generation assets, sorting out the transmission lines and reducing technical losses.

Over the longer term the focus was on a Naoro-Brown hydro project for extra base load and transition to LNG-based thermal for peak load.

NOTE ALSO THAT THEY OFFERED TO FIX THE POM SYSTEM FOR $US35M SPREAD OVER FIVE YEARS, Not K90 million in one big hit for two generators only. The whole system would have been fixed including Rouna, Kanudi and Moitaka, the transmissions lines (where the most immediate problem is) and other parts of the system.

We now know there was a cover up, the highest in PNG, it came down from the Prime Minister's office by-passing, NEC, Cabinet and even experts from PNG Power.

THE LR GROUP PROPOSAL TO TAKE OVER PNG POWER
THE LR GROUP PROPOSAL TO TAKE OVER PNG POWER II

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