In response to what it believes were erroneous press reports, Beacon Hill associates
issued a press statement saying that it was "time to set the record straight."
"Beacon Hill Associates Inc. is developing and building a 60 megawatt, state-of-the-art,
turbine driven power plant in Phnom Penh. Beacon Hill's Power Purchase Agreement
is current and will remain in force and effect. The plant will be built and the city
will enjoy affordable, clean, reliable electric power... for the next 25 years,"
according to the statement.
The press release added: "Beacon Hill brought in a major US utility in the early
stages of the development process of the Phnom Penh plant.
Despite making pledges to the government and Eletricité du Cambodge, the utility
decided to desert the project a few months after coming to Cambodia. This does not
hurt the Beacon Hill project; it helps it because large utilities will compete to
participate in the project once it is more fully developed. Beacon Hill replaced
the utility with K&M Engineering and Consulting, a highly experienced Engineering
company that has developed, financed and built more than 200 megawatts of power in
nations with developing economies."