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Business 2005 P10



Calpine restructures relationship with Siemens Westinghouse
Calpine Corporation is to restructure its long-term relationship with Siemens Westinghouse as it continues with its plan to reduce its operating expenses.

Exelon's shareholders follow PSEG's by approving merger
Exelon Corporation's shareholders have approved the company's proposed acquisition of Public Service Enterprise Group (PSEG), who's own shareholders voted in favour of the deal last Tuesday.

TDK acquisition creates world's second largest power manufacturer
Invensys has sold Lamda, the UK based global power supply specialist, to the Japanese company TDK in a deal worth $235m.

Hitachi boosts power equipment production in China
Hitachi Ltd has turned its joint venture in Dalian, Liaoning Province, China into a wholly owned unit and plans to expand the lineup of power-generation-related components and equipment produced there.

CFCL and EWE plan fuel cell partnership for German residential market
Ceramic Fuel Cells Limited (CFCL) has signed a Letter of Intent (LOI) with German utility EWE to develop fuel cell based combined heat and power (CHP) systems for the residential market.

European utilities stable, but looking for growth
Credit ratings on Europe's top 20 electricity and gas utilities have remained stable over the last few months, but this could change as companies look for growth opportunities, according to a report released today by Standard & Poor's Ratings Services.

97 per cent of PSEG say yes to Exelon merger
The merging of PSEG and Exelon, which would create the largest electric company in the US, moved closer to reality yesterday as PSEG shareholders voted overwhelmingly in favour of the deal at the company's annual meeting.

Plug Power shares brand with Tyco to sell cells
Plug Power Inc has received its largest ever order of GenCore backup fuel cell systems from its distribution partner, Tyco Electronics.

Duke and Cinergy submit merger application to FERC
US power companies Duke Energy and Cinergy have filed an application with the Federal Energy Regulatory Commission with the aim of gaining approval of their merger by early 2006.

Bechtel accepts $160m to quit Dabhol
Bechtel Corp. signed a deal on Tuesday to extricate itself from a four-year fight over a defunct power plant in India, accepting $160m to settle its $6bn suit against the government of Maharashtra.

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