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Business 2006 P15



Peabody Energy, Shenhua Group agree on strategic cooperation efforts
Shenhua Group and Peabody Energy announced that the two companies have signed a memorandum of understanding to pursue business development opportunities of mutual interest in China.

Banks step up to finance EVN power projects
The expansion of Vietnam's electricity system up to 2010 is to be financed by a consortium of four local banks. The banks will provide a VND42tn ($2.7bn) line of credit to Electricity of Vietnam (EVN) to bankroll power capacity development from, EVN director general Dao Van Hung said in Hanoi last week.

Centrica cements Texas holding
Centrica's North American subsidiary has invested further in the Texan power market by acquiring the customer base of Entergy Solutions for $30m.

Mitsubishi electric enters European photovoltaic inverter market
The president of Mitsubishi Electric Corporation Setsuhiro Shimomura said today that his firm would introduce two new independently developed and manufactured photovoltaic inverters to the European market in September.

International Power agrees Texan coal plant acquisition
International Power subsidiary, American National Power, has today agreed to acquire the 632 MW coal fired Coleto Creek Power generation facility in Texas from Topaz Power Group for a total cash consideration of $1.14bn.

PNM Resources acquires Texas coal plant
PNM Resources completed its acquisition of the Twin Oaks Power facility April 18 -- the latest addition to the company's merchant generation fleet.

Alstom buy into Chinese boiler producer
Alstom has taken a controlling 51 per cent share in Chinese boilermaker Wuhan Boiler Co.

Globeleq completes purchase of Latin American power plants
Globeleq announced the completion of the purchase of power assets in Panama and the Dominican Republic from El Paso Corp. The purchase of additional assets in Latin America is expected to close later in 2006. The transaction was announced mid-January, 2006.

CH Energy Group subsidiary acquires controlling interest in New York biomass plant
Central Hudson Enterprises Corporation, a subsidiary of CH Energy Group, Inc., has purchased the majority interest in a 19-MW upstate New York biomass electric generating plant for $9.8 million from Dallas, Texas-based Catalyst Renewables Corporation.

TXU Wholesale adds more wind megawatts
TXU Wholesale, a subsidiary of TXU Corp., announced it has increased its portfolio of wind power contracts with a 125 MW agreement with Airtricity, a renewable energy company based in Dublin, Ireland.

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