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Business 2005 P11



Mitsubishi poised for Westinghouse bid
Mitsubishi Heavy Industries of Japan is preparing an offer around $1.8bn to buy British Nuclear Fuel's US-based nuclear power station construction unit Westinghouse.

Westinghouse adds another to its nuclear task force
Westinghouse Electric Company has added another member to its research team in a bid to develop the best proposal for the US Department of Energy's Next Generation Nuclear Plant project.

Mitsubishi Heavy weighs in for Westinghouse
Japan based Mitsubishi Heavy Industries could pay up to $1.8bn for Westinghouse Electric Co. if its bid for the nuclear power plant builder is successful.

GE Energy announces nuclear alliance with FirstEnergy
GE Energy's nuclear business has signed a strategic alliance agreement with FirstEnergy Nuclear Operating Company (FENOC) of Akron, Ohio. The six-year alliance, agreed to this year, will cover operational support at FirstEnergy's Perry Nuclear Power Plant and Davis-Besse Nuclear Power Station.

ScottishPower's PPM energy sells 125 MW of wind energy
ScottishPower's US competitive energy business, PPM Energy, has signed long-term agreements to sell 125 MW of the proposed 150 MW Shiloh windfarm, expected to be commercially operational by the end of 2005.

Alliant Energy agrees to sell nuclear unit
Interstate Power and Light Company (IP&L), a subsidiary of Alliant Energy Corporation announced Tuesday that the company has signed a definitive agreement to sell its 70 per cent ownership interest in the 598 MW Duane Arnold Energy Center (DAEC), a nuclear generating facility located near Palo, Iowa, to FPL Energy, LLC, a subsidiary of FPL Group, Inc.

Mitsui Babcock makes Polish power industry investment
Mitsui Babcock, the UK-based multi-specialist energy services company, has acquired a majority interest in Poland's Energo-Inwest Sp.z .0.0. from Electrownia Rybnik SA.

ABB signs new $2bn credit facility
Swiss engineering giant ABB said today it has signed a $2bn, five-year revolving credit facility agreement with a group of 20 banks. The unsecured facility replaces the $1bn credit facility that was due to expire in November 2006.

GE buy German wind portfolios
REpower Systems and Denker & Wulf announced today their agreement to sell one of Germany's largest wind farm portfolios. GE Commercial Finance Energy Financial Services agreed to buy four wind farms from Denker & Wulf and one from REpower Systems for €135.5m ($164.5m), including the assumption of debt.

El Paso Corp. Sells Interest in Chinese Power Plants
El Paso Corp. will sell its interests in four power plants located in China to GP China Limited for approximately $71 million.

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