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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-57
NOTIFICATION OF FOREIGN UTILITY COMPANY STATUS
Filed Under Section 33(a) of the
Public Utility Holding Company Act of 1935, as amended
P.T. Puncakjaya Power
P.T. Nusantara Power Services
Duke Irian Jaya, Inc.
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(Name of foreign utility company)
DUKE POWER COMPANY
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(Name of filing company, if filed on behalf
of a foreign utility company)
The Commission is requested to mail copies of all communications to:
John Spuches
Richard Shutran
DEWEY BALLANTINE
1301 Avenue of the Americas
New York, NY 10019-6092
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Notification
Duke Power Company, a North Carolina corporation ("Duke"),
acting on behalf of P.T. Puncakjaya Power, an Indonesian limited liability
company ("PJP"), P.T. Nusantara Power Services, an Indonesian limited liability
company ("NPS") and Duke Irian Jaya, Inc., a Delaware corporation ("Duke Irian
Jaya") herewith notifies the Securities and Exchange Commission (the
"Commission") that each of such corporations will become a foreign utility
company pursuant to Section 33(a) of the Public Utility Holding Company Act of
1935, as amended (the "Act"). Accordingly, each such corporation claims
foreign utility company status under the Act.
ITEM 1
Names and Business Addresses:
P.T. Puncakjaya Power
Plaza 89, 6th Floor
J1. H.R. Rasuna Said Kav. X-7 No. 6
Jakarta 12940, Indonesia
P.T. Nusantara Power Services
Plaza 89, Suite 1105
J1. H.R. Rasuna Said Kav. X-7 No. 6
Jakarta 12940, Indonesia
Duke Irian Jaya, Inc.
1105 North Market Street
Suite 1300
P.O. Box 8985
Wilmington, Delaware 19899-8985
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Facilities:
The Facilities consist of power generation, transmission and
distribution assets which are existing, under construction or planned. The
generation assets will consist of nine separate power production plants located
in Irian Jaya, Indonesia, consisting exclusively of diesel generator sets with
the exception of one hydroelectric generating plant. The combined adjusted
nameplate capacity of the power plants is expected to total 193.2 MW after
completion of currently planned plant additions. Existing on-line power plants
have a combined adjusted nameplate capacity of approximately 108 MW; power
plants currently under construction are expected to have a combined adjusted
nameplate capacity of approximately 69MW; and planned power plant additions are
expected to have a combined adjusted nameplate capacity of 16 MW.
The Facilities also include or will include the following
transmission and distribution assets: a 115 kV ring bus which interconnects
certain of the power production plants and a 13 kilometer 20 kV transmission
line which will join two portions of the Facilities upon its completion.
PJP will own the Facilities, with Duke Irian Jaya being an
indirect owner thereof, as hereinafter set forth. NPS will be the operator of
the Facilities.
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Ownership:
The outstanding voting stock of PJP is owned by Duke Irian
Jaya (30%), P.T. Freeport Indonesia Company, an Indonesian limited liability
company ("PTFI") (30%), PowerLink Indonesia Company, L.L.C. (30%) and P.T.
Austindo Nusantara Jaya (10%). Duke Irian Jaya is a wholly owned subsidiary of
Duke Energy Group, Inc., a Delaware corporation ("Duke Energy"), which is a
wholly owned subsidiary of Church Street Capital Corp., a Delaware corporation
("Church Street"), which in turn is a wholly owned subsidiary of Duke.
The outstanding voting stock of NPS is owned by Duke Coal
Project Services Pacific, Inc., a Nevada corporation ("DCPSP") (40%), Fluor
Daniel Asia, Inc., a Delaware corporation ("Fluor Daniel Asia") (40%), and P.T.
Catur Yasa ("Catur Yasa"), an Indonesian limited liability company (20%).
DCPSP is a wholly owned subsidiary of Duke Coal Project Services Group, Inc., a
Delaware corporation, which is a wholly owned subsidiary of Church Street,
which in turn is a wholly owned subsidiary of Duke.
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ITEM 2
Domestic Associate Public-Utility Companies of PJP, NPS and
Duke Irian Jaya and their Relationship to Such Entities:
Duke and Nantahala Power & Light Co. ("Nantahala") are
domestic associate public-utility companies of PJP, NPS and Duke Irian Jaya,
with Duke being the parent holding company. Duke's relationship to each of
PJP, NPS and Duke Irian Jaya is that it indirectly owns 30%, 40% and 100%,
respectively, of such entities through wholly owned subsidiaries. DCPSP and
Fluor Daniel Asia are the partners of Duke/Fluor Daniel International Services,
a Nevada partnership, which provides design and construction services for
foreign power and other projects. Nantahala is a wholly owned public-utility
subsidiary of Duke. Nantahala will not be involved in any way in the
ownership, management, operation, or maintenance of PJP, NPS or Duke Irian
Jaya.
It is anticipated that Duke Irian Jaya will make equity
contributions and/or subordinated loans to PJP in the aggregate amount of
$16.125 million in three installments for the purchase by PJP of (i) power
assets that are existing and on-line (approximately $7.5 million) (prior to
December 31, 1994), (ii) for power assets that are under construction
(approximately $7.5 million) (on or prior to December 31, 1995) and (iii) for
power assets that are presently in the planning phase (approximately $1.125
million) (on or prior to December 31, 1995). This
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amount consists of Duke Irian Jaya's pro rata share of that part of the total
consideration payable for the Facilities that is expected to be provided by
PJP's shareholders through equity contributions and/or subordinated loans to
PJP (approximately $53.750 million). The remaining part of the total
consideration payable for the Facilities is expected to be obtained through
nonrecourse secured term financing with PJP as borrower ($161.250 million).
Exhibit A: Documents Incorporated by Reference
(1) North Carolina Utilities Commission certification letter dated
January 25, 1993 (filed with the Commission on February 17,
1993).
(2) The Public Service Commission of South Carolina certification
letter dated January 13, 1993 (filed with the Commission on
February 17, 1993).
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SIGNATURE
The undersigned company has duly caused this statement to be
signed on its behalf by the undersigned thereunto duly authorized.
DUKE POWER COMPANY
By: /s/ Steve C. Griffith, Jr.
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Steve C. Griffith, Jr.
Vice Chairman
Date: December 16, 1994
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