Asia, Europe, On Site Renewables

Doosan acquires turbine maker Škoda Power

Korea’s Doosan Heavy Industries & Construction has signed an agreement to buy Czech power plant equipment maker Škoda Power, which will provide the rights to proprietary turbine technologies used in power plants. Doosan and Škoda Holding agreed in Prague, Czech Republic, the acquisition that gives Doosan a 100% equity stake in Škoda Power. The transaction is expected to be completed by the fourth quarter of 2009, when the full financial terms of the agreement are met.

Swedish forestry company Södra and Norwegian energy company Statkraft have signed an agreement covering a range of new renewable energy technologies. As part of the deal, Statkraft will become a partner for Södra through the establishment of a new jointly-owned business for the long-term development and expansion of wind power on Södra’s properties.