| Moth-balled power projects in Asia may have to be dusted off, as demand rises |
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Governments across south-east Asia are on the brink of making fundamental energy sector reforms that should keep a steady stream of deals in the pipeline for the next few years.
Despite California's power shortages, blamed on mistakes made in the restructuring and deregulation of the US industry, deregulation is likely to continue in Asia, as countries there expect rising electricity demand to accompany resumption of economic growth.
All this translates into corporate finance advisory work and fund-raising mandates for investment banks as governments privatize utilities and sell off power generators and independent power producers raise money to take on or expand existing projects.
Before the 1997-98 Asian crisis, new power capacity was busily added as the region's electricity consumption grew in line with rapid economic expansion.