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Business 2005 P13



Voith Siemens to commercialize wave energy technologies
Voith Siemens Hydro has purchased the Scottish developer of wave energy systems, Wavegen, with a view to commercializing its technologies in the near future.

Babcock Power gets credit for acquisitions
The US supplier of products and services to the power generation industry, Babcock Power, has increased its rolling credit facility by 25 per cent to fund future acquisitions.

Centrica acquires Dutch energy supplier
UK utility Centrica announced Monday that it has agreed to acquire Oxxio BV (Oxxio), a Dutch energy supplier, for a price not exceeding €137m ($168m) including an earn-out mechanism within the transaction based on future performance of the company.

Spanish firm to develop wind energy in China
Spanish energy company Acciona has signed a joint venture agreement with the Chinese state owned group, China Aerospace Science and Technology Corporation (CASC) to develop renewable technologies.

Repower forms joint venture in Portugal
German wind technology company REpower Systems has formed a joint venture with the Portuguese firm Martifer Energia, named REpower Portugal - Sistemas éolicos, S.A., in which both firms hold a 50 per cent stake.

VA Tech Hydro's first quarter orders up by 20 per cent
VA Tech Hydro has raised its order intake to €269m ($329m) in the first quarter of 2005, up 20 per cent from the €225m it recorded in the first quarter of 2004.

Siemens enters JV to gain access to Chinese switchgear market
Siemens Power Transmission and Distribution and Shenzhen Baochang Power Supply have formed a joint venture to manufacture medium voltage switchgear for the south of China.

JV to develop hydropower projects in China
Meiya Power Company (MPC) has established an equally owned joint venture with Hunan Economic Construction Investment Company (HECIC) to invest in power projects within the Central Chinese province of Hunan.

RWE rating hit by uncertainty over German regulator
Standard and Poor's Rating Services has affirmed its 'A+' long term and 'A-' short term ratings on Germany based utility RWE AG following a review, stating that the outlook is negative.

Vattenfall acquires CHP and wind power capacity in Denmark
Having been outmaneuvered in its bid to acquire both Elsam and E2, Vattenfall has come to an agreement with Danish power company Dong under which Vattenfall will relinquish its holding in Elsam in exchange for CHP and wind power assets in Denmark.

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