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Business 2007 P9



Fortum to sell stake in Russian power distributor
In a statement release today, Fortum has announced it is to sell its one third stake in JSC Lenenergo, a Russian power distribution company for €295m ($397m). The buyer is a consortium comprising Russia's RAO UES, VTB Bank and IDE Electricity Distribution Investment.

FPL to expand existing nuclear capacity
Florida Power & Light Co. said it signaled its intention to regulators to file proposals by the end of the third quarter to expand power production at its existing nuclear generating facilities and to pursue building two new nuclear power units.

Marubeni looks to commercialize coal gasification in Vietnam
Japanese trading house Marubeni Corporation has said it has reached a basic agreement on jointly commercializing underground coal gasification technology with Vietnam National Coal-Mineral Industries Group and Linc Energy Limited of Australia.

Washington Group awarded Chinese nuclear contract
Washington Group International was selected by Nuclear Power Qinshan Joint Venture Co. LTD to provide project management consulting services related to NPQJVC's nuclear power activities in China.

RAO UES to sell stake in energy retail companies
Russian power monopoly UES has scheduled the sale of its stakes in more of its energy retail companies for mid-September, the company said in a statement yesterday.

Kazatomprom becomes minority shareholder in Westinghouse Electric
Toshiba Corporation and the Republic of Kazakhstan's Kazatomprom, a major supplier of uranium, announced yesterday that they have signed a share-transfer agreement, under which Kazatomprom will become an indirect minority shareholder in Westinghouse Electric Company LLC.

Tenaska Capital buys two Chicago-area power plants
DTE Energy Services Inc. and ArcLight Capital Partners LLC will sell their interests in 984 MW of power generation facilities near Chicago to units of Tenaska Capital Management LLC.

Gazprom hoping to enter UK market through E.ON asset swap: report
Russian state-owned gas monopoly Gazprom, which has been looking to enter the UK market for some time, is reportedly hoping to obtain stakes in several UK power stations from German utility E.ON, in exchange for an interest in its Yuzhno Russkoye gas field, The Times has reported, citing Russian daily Vedomosti.

233 MW wind farm opens in Texas
AES Corporation announced the start of commercial operation of its 233 MW Buffalo Gap 2 wind farm expansion near Abilene, Texas. The company said this expansion makes the wind farm the state's third largest with a total wind power capacity of 354 MW.

Toshiba wins South Texas services job
NRG Energy, Inc. and STP Nuclear Operating Co. signed a project services agreement with Toshiba Corporation regarding two new nuclear units planned for the South Texas Project location. The new units, STP 3 and 4, will total approximately 2,700 MW and are scheduled to become operational in 2014 and 2015.

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