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Business 2008 P2



SSE may expand presence in Irish power market
According to several media reports, Scottish & Southern Energy (SSE) of the UK is in the process of lining up a bid to purchase Irish energy supplier Energia, a branch of Viridian Energy, from private equity firm Arcapita.

Shareholders approve GDF, Suez merger
Europe's second largest electricity producer was formed yesterday after shareholders in French firms GDF and Suez approved a tie-up despite domestic political opposition and misgivings by European Union officials.

Rolls-Royce sets up new unit to address civil nuclear market
Rolls-Royce today announced that it is establishing a new business unit to address the global market for civil nuclear power. The company estimates that this worldwide market could be worth £50bn ($100bn) a year in 15 years time.

New ABB boss announced
ABB today announced the appointment of Joseph Hogan as its new chief executive after months of searching to replace Fred Kindle, who stepped down in February.

ABB acquires US transformer company to expand product offering in the Amercias
ABB, a global power and automation technology group, has signed an agreement to acquire transformer company Kuhlman Electric Corporation of the USA for an undisclosed sum from global private equity firm The Carlyle Group to expand its power products portfolio in the Americas.

Sweco acquires Bulgarian hydropower consultants
Swedish engineering firm Sweco is continuing its expansion in central Europe by acquiring the Bulgarian energy and environment consulting company, Energoproekt Hydropower.

Malaysia's solar energy industry looks to Japanese investors
Malaysia's international trade and industry minister, Muhyiddin Yassin, invited Japanese investors to invest in the development of the solar energy industry in Malaysia to meet the increasing global demand for renewable energy.

RWE's offer to strengthen German grid cooperation
Utility giant RWE has said it is prepared to take on systems management of the ultra-high voltage grid currently owned by the four German transmission systems operators.

Suez Energy consolidates position as renewable energy major in Brazil
Tractebel Energia, Suez Energy International's subsidiary in Brazil, has signed a share purchase agreement for the acquisition of two small hydroelectric plants with a total installed capacity of 50.3 MW.

Vietnam needs $700m by year-end to fund power projects
According to the Electricity of Vietnam Group (EVN), it requires around 11.9trn VND ($704m) between now and the end of the year to develop power generating and transmission line projects.

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