Doosan Heavy buys Skoda Power
South Korea’s Doosan Heavy Industries and Construction signed an agreement to buy Skoda Power.
The agreement with The Czech power plant equipment maker will provide the rights to proprietary turbine technologies, and gives Doosan a 100 per cent equity stake in Skoda Power.
Finalization of the agreement is expected in the fourth quarter of 2009 when the financial terms of the agreement are met.
Doosan already has a presence in the Czech Republic through its subsidiary Doosan Infracore, which operates a manufacturing pant in Dobris for Bobcat construction and utility equipment.
The acquisition will add to Doosan’s portfolio in the core technologies for boilers, turbines, and generators. The deal means that Doosan will now be a complete plant supplier with capability to provide single source EPC solutions.
Doosan Heavy Industries and Construction’s President and CEO Geewon Park said, “We expect the synergies of the Skoda Power acquisition to generate and additional to generate an additional $4.26bn in annual revenue in 2020.”
Borssele nuclear plant excluded from Essent’s takeover by RWE
The takeover of Dutch utility company Essent by German company RWE will go ahead, but will not include Essent’s 50 per cent stake in Borssele nuclear power plant in the Netherlands.
The transaction price has been dropped by €950m ($1392m) to reflect this, after a court in Arnhem, the Netherlands, ruled in July in favour of Delta – the owner of the remaining 50 per cent of the Borssele plant.
Delta announced in April it was taking legal steps to prevent RWE take over of Essent’s share of the plant after shareholders demanded EPZ the joint venture between Delta and Essent for the Borssele plant should remain in public ownership.
In May Delta said it was taking Essent, RWE and Essent’s 136 shareholders to court claiming they had acted unlawfully in the way in which the transaction structure of the deal had been specified.
GE Energy acquires Norway’s ScanWind
GE Energy announced the completion of the acquisition of ScanWind, a developer of advanced drive train and control wind turbine technologies aimed at offshore deployment.
ScanWind was founded in 1999 and has its headquarters in Norway and its design-engineering centre is based in Sweden. The technology it produces eliminates the need for gear boxes..
The company’s 41 employees have developed the 11 turbines operating on the Norwegian Coast which are currently using this technology.
Siemens Energy acquires majority holding in Chinese metal companies
Siemens Energy has acquired a majority holding in the Chinese metalworking company Yangtze Delta Manufacturing (YDM) and the Chinese aluminium foundry GIS Steel and Aluminium Products (GISAP).
The purchase price was not disclosed, though YDM and GISAP have together posted revenue totalling approximately €65m ($95.3m).
Udo Neihage, CEO of the Power Transmission Division within Siemens Energy said “Over the long term we are anticipating a constantly high demand for high-voltage power transmission products in China and are thus securing the requisite capacities to maintain our successful business in this growth market.”
With these acquisitions Siemens Energy has expanded its global production network for high-voltage circuit-breakers in China.
Neilhage went on to say the demand for reliable, cost-optimized high-voltage products for the transmission of electrical energy continues to rise. Drivers control significant increases in power demand in the newly industrializing countries and the energy-efficient integration of renewable energy resources.
RWE creates transnational firm
As part of the new RWE project, the RWE AG board has decided to create a new company which will have transnational responsibility for power station new build across the whole of the RWE Group.
The new company will report to the COO of RWE AG Dr Ulrich Jobs,will carry out power station projects in Germany and across Europe on behalf of the RWE operating companies. He said, “In future, new projects will be based on the same technical standards throughout the RWE group. That too will simplify lots of processes.”
Matthius Hartung is currently responsible for lignite mining, upgrading and lignite-based power generation at the board of RWE Power. Fellow managing directors will be Dr Michael Fubi and Dr Ralph Nowack as chief processes officer.
Lloyd’s Register launches global energy business
The Lloyd’s Register Group has created a new Energy business by merging its Oil and Gas with its Chemicals and Power divisions.
The newly created energy business will operate with a staff of over 1900 out of several key office hub locations which are to include, Houston, and London.
Over the past two years the Lloyd’s Register Group has been building on its existing competence in the enrgy sector, delivering organic growth of 40 per cent per year.
Israeli solar: Siemens in investing $15m in Israeli solar power company, Arava, after an agreement was signed at Kibbutz Ketura, Israel, securing Siemens a 40 per cent stake in the company.
GE in China: GE Energy is to invest $130m to launch a joint venture with Chongquing XinXing Ger Co, China, to make large, diameter gears for wind power generation facilities.
Germany buyer: Swedish company, Vattenfall plans to sell its 80.3 per cent share in the regional electricity company WEMAG to the German municipalities of Mecklenburg-Western Pomerania and Brandenburg, which currently owns the minority share, for €170m ($249m).
AirTest patent: AirTest Technologies have signed a memorandum of understanding with a US based research company which will allow it to obtain exclusive proprietary rights and intellectual property to market and manufacture infrared based gas sensing technologies developed by the company.
Areva construction: French company Areva announced it will launch construction activities for its transmission and distribution Technology centre in Shanghai’s Caohejing Pujiang High-Tech Park, China, at a cost of €50m ($73m).
Developing foundations: Norwegian construction group, AF Gruppen said it will co-establish a company which will develop foundations for offshore wind turbines with Norwegian scientist Olav Olsen and energy company Lyse Energies AS.
Investment award: The 2009 Frost and Sullivan European Solar Photovoltaic Hot Investment Opportunity Award has been presented to US company SolarEdge.
Japanese investment in Canada: Chubu Electric Power Company and Toyota Tshusho Corporation have bought interests in a power generating project in Canada and will supply electricity to the wholesale market in Ontario.
Prospects for the Philippines: French power firm Vergnet told reporters at the Powertech Forum that they foresee prospects for wind power business in the Philippines over the next two years.