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Business 2005 P19



Aquila completes exit of Batesville agreements
US utility Aquila announced Monday that it had completed arrangements to exit its Batesville, Miss., power purchase and sale agreements. In closing the transaction, Aquila received $16.25m.

Novera Energy completes wind farm sale
Australian renewable energy firm Novera Energy Limited today announced the completion of the sale of the Mynydd Clogau wind farm project in Wales, formerly owned by Novera Energy and Renewable Energy Systems Group (RES) to the Novera Macquarie Renewable Energy Limited (NMRE) joint venture, in which Novera Energy holds a 50 per cent interest.

PG&E secures Duke Morro Bay output
Pacific Gas and Electric Company (PG&E) announced Wednesday it has entered into a power purchase agreement with Duke Energy Marketing Americas (DEMA) providing PG&E with exclusive rights to dispatch Morro Bay Units 3 and 4, each 325 MW, to meet PG&E's capacity and energy needs for the period 2005-2007.

Wood Group adds to Dubai service facilities
Wood Group Engineering Services (Middle East) Ltd (WGES) has opened two new additions to its facilities in Jebel Ali, Dubai including a new test cell for testing Solar Centaur 40 and Mars 90 & 100 engines, plus a new dedicated rotating equipment facility.

Schneider Electric acquires Power Measurement Inc.
Schneider Electric, the global power and energy service provider, is to acquire Canadian based Power Measurement, Inc. (PMI), owned by a consortium led by GFI Energy Ventures LLC.

Enel sells electricity network in Modena
Enel Distribuzione is to sell its distribution and sale of electricity division in Modena to Meta SpA for €127m ($166m).

Enel and SE sign acquisition agreement
The Slovakian Minister for the Economy, Pavol Rusko, and Enel CEO, Paolo Scaroni, have signed the €840 million ($1.1bn) agreement for Enel's acquisition of 66 per cent of the electricity company Slovenske Elektrarne (SE).

Red Eléctrica adds Iberdrola network
Red Eléctrica de España (REE), the electricity system operator and owner of the bulk of the electricity transmission grid assets in Spain, has agreed to acquire 75 per cent of Iberdrola's transmission network from Grid Industries which owned by CVC Capital Partners.

Drax rating unaffected by low emissions allocation
The ratings of the UK based coal fired power station operator Drax Power Ltd. and its subsidiaries will not be affected by its carbon dioxide emissions allocation even though profits may drop, according to the latest report from Standard and Poor's.

Areva, Siemens JV to develop US EPR option
Areva's joint subsidiary with Siemens, Framatome ANP, announces the formation of a new organization to focus on the future need for commercial nuclear generation in North America.

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