Global creates and manages power projects in emerging foreign markets. The firm both purchases existing power plants and identifies unmet needs and works with governments to modernize plants or develop and operate new ones. Currently Global is developing a 330 megawatt hydroelectric plant in Brazil, a 600 megawatt coal-fired electric generating station in China, and is planning to rehabilitate and operate an 850 megawatt plant in the Philippines. In addition, it plans to acquire a 1,000 megawatt coal-fired plant in China. Longer term, Global also intends to acquire and operate nuclear generating plants in the United States.
Nuclear plants are unpopular and therefore can be acquired relatively cheaply.
But they are essential to our power supply and the company believes it can operate them quite profitably. All this will take lots of cash. So far, in its three years of operation, Global has had to bootstrap its way along and sell major interests in its projects. It wants to retain a larger interest, at least long enough to derive maximum benefit by selling at the best available price. While the company intends to raise working capital itself, the plan is to leverage its power plant investments by cooperating with institutional investors.