We continue with our in-depth series of reports by Southwest Ledger reporter Mike Ray as he explored the proposed Kiamichi River hydroelectric project that has drawn a growing list of opponents.
By Mike W. Ray
Southwest Ledger
The Southeast Oklahoma Power Corporation (SEOPC) is owned and managed by individuals who have no connections whatsoever to Oklahoma, and is led by a man who has deep ties to China.
Congressman Josh Brecheen (R-Oklahoma) issued a public statement expressing his opposition to SEOPC’s project.
The corporation has “ties to a Chinese Communist Party-linked individual” and its project “would require the eminent domaining of 35,000 acres of Oklahoma land, including many homes, farms, and ranches in the surrounding area that have been owned by Oklahoma families for generations. All the power produced would then be sold in Texas, not Oklahoma,” Brecheen noted.
“Our office will do everything in our power to prevent this harmful project from moving forward,” the congressman asserted. “Any person or company involved with the Chinese Communist Party, which is an enemy of the United States, has no business operating in Oklahoma.”
The SEOPC’s initial application was filed with the Federal Energy Regulatory Commission (FERC) on Aug. 27, 2018, and was published in the Federal Register on Nov. 26, 2018.
Its cover letters to FERC were signed by John Bobenic in care of Daytona Power Corp. in Calgary, Alberta, Canada. Daytona Power Corp. was incorporated in Nevada on Dec. 20, 2017; was still an active company on Aug. 2, 2024; and listed a street address in Carson City, Nevada.
ZGlobal, a California-based company that says it engages in power engineering and energy solutions, reports on its website that the Pushmataha County “project company and development company” are organized under two limited liability companies: Southeast Oklahoma Power Corporation (“SEOPC”), which is registered in Nevada, and the PSH Oklahoma Development Company Inc. (“PSHDC”), registered in Texas.
Southwest Ledger visited “SilverFlume, Nevada’s Business Portal,” on Aug. 2, and found Southeast Oklahoma Power Corporation listed as an active corporation registered and incorporated on July 2, 2018, at the same street address in Carson City, Nevada, as that for Daytona Power Corp.
The registered agent on Nevada’s records for SEOPC and for Daytona Power Corp. is C.T. Corporation System, which “offers professional registered agent services” in all 50 states [it has an office in Oklahoma City] and the District of Columbia “to safeguard your business from legal and compliance risks.”
Johann (Yau On) Tse, 48, is listed as the president of SEOPC and his office is in Dallas, Texas.
The Ledger emailed Tse on Aug. 2, asking why SEOPC was incorporated in Nevada rather than, say, Oklahoma or Texas or Delaware. No reply has been received.
In January of this year, Tse sent a letter to Kimberly D. Bose, Secretary of FERC, notifying her of a “notice of intent to file an application for an original license and pre-application document” for a Pushmataha County Pumped Storage Hydroelectric Project.
Tse directed inquiries to a Dallas telephone number or an email address at Aquarian Capital. On its website, Aquarian lists a street address in Plano, Texas. Tse has been the chief executive officer of Aquarian Capital since 2006.
On its website Aquarian Capital posts this introduction – which indicates close ties with China:
“The rapid emergence of China as a major economic power has produced fundamental changes across the global competitive landscape and the supply chain structure for many industries. Such developments have in turn produced new paradigms, business models, and competitive strategies for many.
“The China Factor represents serious threats, in numerous ways, to incumbents and industries that have strong inertia to change, but it also represents new opportunities for those who are willing to adapt quickly, develop strategies that can stand the test of time, and have strong execution capabilities.
“Aquarian Capital, LLC, is a corporate development and investment advisory firm that specializes in helping middle-market companies capitalize on strategic opportunities that exist primarily between the US/Europe and China. With offices and partners in Dallas, Beijing, Shanghai, Hong Kong and Taipei, our advisory team has deep and broad experience in corporate strategic planning, building cross-cultural partnerships, originating, structuring, negotiating and closing cross-border mergers, acquisitions and direct investment transactions, as well as turning around and growing businesses profitably. With extensive relationships across governments and industries in the Greater China region, our insight, experience and creativity can help businesses and investors create unique competitive edge and sustainable shareholder value.”
Several members of Aquarian Capital’s “team” have extensive business ties to China. They include Johann (Yau On) Tse, chief executive officer and founder of Aquarian Capital, and directors Joe Chan, Wilfred K. “Chuck” Lau, Manmeet Singh, Raymond Tse, David Yao, and Mei Zhu.
Johann Tse is listed as a director of the Dallas Committee on Foreign Relations and a director of Blackstone Natural Resources SA, described as “an upstream exploration and production company focused on acquiring and developing distressed oil and gas assets in the Americas.”
He also is listed as a director of China Dadi Chemical Limited, which is described as a provider of industrial salt and salt chemicals. “The company provides industrial salt and chlor-alkali chemicals, as well as other salt chemicals in mainland China. It offers more than 50 types of products applied in metals, paper making, chemical processing, construction, plastics, and agricultural industries.”
Tse also is listed as an independent director of Fuling Global Inc., a manufacturer and distributor of mainly environmentally-friendly plastic and paper food service disposable products. Reports indicate Fuling Global is based in Wenling, China.
Tse reportedly earned a bachelor of science degree from the Chinese University of Hong Kong in 1990, and an MBA degree from INSEAD graduate business school in France in 1999.
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