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Business 2005 P23



Volvo Penta expands plant in China
Volvo Penta is expanding its Chinese engine plant, resulting in an increase in production capacity to about 10,000 engines annually. Volvo Penta and its Chinese partner, Wuxi Diesel Engine Works, jointly own the plant, located in Wuxi, about 100 km west of Shanghai.

VA Tech T&D continues on same form
Following its 9 per cent raised order intake in 2004, VA Tech T&D has recently secured international orders with a total value of over €100m ($132m).

Calpine may sell UK plant three years after purchasing
The Saltend Energy Centre may be sold as Calpine Corporation evaluates the power plants future having appointed Credit Suisse First Boston to act as its advisor.

Saudi Electricity to spend $1.9bn on new projects
Saudi Electricity Company has earmarked SR7.1bn ($1.9bn) from its estimated budget expenditure to cover all projects and company activities.

AES to acquire SeaWest Holdings
The AES Corporation is to acquire SeaWest Holdings Inc., in a $60m deal that will make AES one of the major developers of wind farms in the US. The acquisition is expected to close by the end of the first quarter of 2005.

Siemens acquires network planner PTI
Siemens Power Transmission and Distribution (PTD), has acquired Shaw Power Technologies Inc., USA, and Shaw Power Technologies International Limited, UK, commonly known as PTI.

ADWEA sells stake in procurement division
As part of its privatisation plan, the Abu Dhabi Water and Electricity Authority (ADWEA) is selling 51 per cent of its stake in one of its companies to the Abu Dhabi Investment Company (ADIC), a senior company official said.

VRB Power & Electrosynthesis sign development agreement
VRB Power Systems Inc. said Wednesday it had entered into technology development agreements with Electrosynthesis Company Inc. (ESC). ESC previously acted as an in house research and development division of RWE npower PLC for the Regenesys technology.

BTU takes stake in Meiya Power
BTU Power Company (BTU) has bought the 50 per cent interest in Hong Kong-based power plant developer and operator Meiya Power Company Limited (MPC) owned by PSEG Global LLC (PSEG).

PPM acquisition makes the most of regional incentives
PPM, Energy, the US subsidiary of ScottishPower, has acquired the Virginia based Atlantic Renewable Energy Corporation and its wind development portfolio. It will be a wholly owned subsidiary of PPM and trade under the name of PPM Atlantic Renewable.

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