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Business 2007 P1



Westar trims wind plans after regulatory decision
A decision by Kansas regulators has led Westar Energy, Inc. to suspend plans to develop 200 MW of wind power by the end of 2010. Westar said it will move forward with another 295 MW. Regulators declined to approve a company request for a renewable energy incentive rate of return.

Gazprom to control Russian generator OGK-6
Gazprom is set to gain control of the Russian power generator OGK-6 after spending almost 21bn rubles ($852m) on new shares of the utility.

France's EDF enters Polish electricity market
France's EDF Trading has carried out its first electricity trades in Poland, the largest energy consumer in central and eastern Europe, it has announced.

Suez to acquire Brazilian hydro power plant
Electricity utility Suez Energy International has signed a €228.6m ($329m) shares purchase agreement for the acquisition of 100 per cent of Ponte de Pedra, a 176 MW hydro power plant on the Correntes river between the states of Mato Grosso do Sul and Mato Grosso in Brazil.

AES plans $2.8bn India power plants
AES, the US power company, plans to build power plants worth $2.8bn in India, marking the biggest move by a foreign company into the country's electricity sector since the high-profile failure of Enron more than six years ago.

Suez Energy International acquires hydroplant in Brazil
Suez Energy International has signed a Shares Purchase Agreement for the acquisition of 100 per cent of Ponte de Pedra, a 176 MW hydro power plant on the Correntes River, between the States of Mato Grosso do Sul and Mato Grosso, Brazil. The transaction amounts to €228.6m ($334m).

Vattenfall to integrate German and Polish operations
Vattenfall will integrate its German and Polish business activities and create the new Business Group Central Europe. Head of the Business Group Central Europe will be the present head of Business Group Poland, Tuomo Hatakka who has also been appointed Chairman of the Management Board at the German subsidiary Vattenfall Europe AG as of 1 January 2008.

GE, GAMA Partner on Energy Projects in Turkey, Surrounding Region
GE Energy Financial Services, a unit of GE, announced today that it would join GAMA Holding AS to invest in energy and water projects in Turkey and the surrounding region, helping to meet rising demand for electricity and water, and grow in emerging markets.

MidAmerican signals nuclear plant interest
MidAmerican Energy Holdings Co., controlled by investor Warren Buffett, notified the U.S. Nuclear Regulatory Commission that it is pursuing the possibility of building a nuclear power plant in Idaho. The Wall Street Journal said the plant would seek permission to sell wholesale electricity to utilities at market prices. MidAmerican Energy is a unit of Mr. Buffett's Berkshire Hathaway Inc., an Omaha, Neb., investment firm.

Frère to reduce 5 per cent holding in Iberdrola
Albert Frère, the billionaire financier, has begun selling his stake in Iberdrola, six months after announcing he had built a 5 per cent holding in Spain's biggest electricity group.

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