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Business 2007 P13



Italy's Enel buys 67 per cent stake in Romanian power distributor
Italian utility Enel Monday signed a €820 m ($1.1 bn) deal with the Romanian government which will give Enel a 67 per cent stake in the Romanian power distribution company Electrica Muntenia Sud, Enel said in a statement.

Solar firm off to bright start
PV Crystalox Solar PLC has today been admitted to the main market of the LSE for unconditional trading. With an initial market capitalisation of &#pound542 million this is the biggest ever renewable company IPO in the UK

Siemens CEO sees more growth in gas-fired generation
U.S. utilities will likely build more gas-fired power plants over the next few years due to resistance to new coal plants, the chief executive of Siemens' power generation business said. Siemens Power Generation CEO Randy Zwirn was quoted as saying that uncertainty about costs from greenhouse gas emissions will drive many power providers toward the gas plants.

US group to clean up UK nuclear reactors
Energy Solutions, a USA nuclear decommissioning group, has been named as the buyer of British Nuclear Group's contract to clean up the UK's ageing Magnox reactors.

Enel wins auction for 25 per cent of Russia's power generator OGK-5
Italy's Enel has won an auction for a 25 per cent stake in wholesale power generating company OGK-5 from electricity monopoly UES, offering 39.2bn roubles ($1.52bn) for the shares.

United Utilities to sell off power distribution assets
The UK's United Utilities is to sell off its electricity distribution business to concentrate on water, which accounts for 85 per cent of the business, the group has announced.

Westinghouse appoints David Howell Vice President of Field Services
Westinghouse Electric Company announced the appointment of David Howell to the position of vice president of Field Services for its Nuclear Services business unit.

Mitsubishi Heavy to license wind turbine technology to China
Mitsubishi Heavy Industries has agreed with a subsidiary of a Chinese electric power group to license its wind turbine production technology to the Chinese company.

URS to acquire Washington Group International
URS Corp. and Washington Group International Inc. have signed a definitive agreement for the acquisition of Washington Group by URS in a cash and stock transaction valued at approximately $2.6 billion.

AES to sell biomass power plants for $51 million
AES Corporation said its wholly-owned subsidiary AES Central Valley, L.L.C. has agreed to sell its 100 percent indirect interest in two biomass fired power plants in California and an associated biomass fuels management company to Covanta Holding Corporation for $51 million.

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