Vattenfall has acquired the Thanet Offshore Wind project off Margate, Kent, for the sum of GBP 35 million (SEK 435 million). On completion, the wind farm will have an installed capacity of some 300 MW. This will be almost three times the size of Lillgrund, Vattenfall’s largest wind farm in Sweden to date, and about the same size as Horns Rev in Denmark, in which Vattenfall has a majority stake. Vattenfall acquired the rights to build Thanet Offshore... Read more..
Denham Capital, a leading energy-focused global private equity firm, announced today that it will invest equity of up to R1,5 billion (US $150 million, 95 million pounds Sterling) in BioTherm Energy, a South African developer, owner and operator of renewable and clean energy generation projects. Commenting on Denham Capital’s investment, Buyelwa Sonjica, South Africa Minister of Minerals and Energy said, “Having opened BioTherm’s... Read more..
On September 29, Reliant Energy announced that it had entered into a letter agreement with Merrill Lynch to take steps to end the credit-enhanced retail structure with Merrill Lynch. The letter agreement also waived compliance with the minimum adjusted EBITDA covenant in the $300 million retail working capital facility with Merrill Lynch through October 31. In a subsequent agreement on October 29, the parties agreed to extend the date until November... Read more..
Ocean Power Technologies, Inc. announce that it has been awarded a new $3 million contract for participation in the second phase of the US Navy’s Deep Water Active Detection Systems (“DWADS”) program, which is designed to utilize sophisticated data gathering and communications systems. This advanced technology program has prospective applications using multiple PowerBuoys® for homeland security including powering sensor networks over wide areas... Read more..
On September 29, Reliant Energy announced that it had entered into a letter agreement with Merrill Lynch to take steps to end the credit-enhanced retail structure with Merrill Lynch. The letter agreement also waived compliance with the minimum adjusted EBITDA covenant in the $300 million retail working capital facility with Merrill Lynch through October 31. Reliant and Merrill have agreed to extend the October 31 date through November 6. Reliant Energy,... Read more..
Foster Wheeler Ltd. announced that its Milan-based subsidiary Foster Wheeler Italiana S.p.A., part of its Global Engineering and Construction Group, has been awarded a contract by Zwara Oil Refinery Company Limited (ZORCO) for consultancy and project management services for a planned new 200,000 barrels per stream day crude oil refinery at Mellita, near Zwara, in the Great Socialist People’s Libyan Arab Jamahiriya. ZORCO is a project company in... Read more..
Foster Wheeler Ltd. announced that its subsidiaries, Foster Wheeler Energy Limited and Foster Wheeler International Engineering & Consulting (Shanghai) Co. Ltd., together with its consortium partner, Wuhuan Engineering Company, have been awarded contracts by Sasol Synfuels International (Proprietary) Limited (Sasol) and Shenhua Ningxia Coal Industry Group Company Ltd. (Shenhua) to perform a feasibility study for an 80,000 barrels per day coal-to-liquids... Read more..
The heating season has started. This year, more than any in recent memory, customers are concerned about how economic uncertainties may affect their ability to manage their bills, including their utility bills. PSE&G wants its customers to know there are specific steps they can take to stay warm and control their heating bill. The following 12 suggestions will help customers conserve energy and save money: * Lower your thermostat by just... Read more..
Reliant Energy today completed the previously announced sale of its Bighorn Generating Station for approximately $500 million to Nevada Power Company (DBA NV Energy), a wholly owned subsidiary of Sierra Pacific Resources. Reliant Energy expects to record a pre-tax gain of approximately $45 million during the fourth quarter of 2008 on the sale of the facility. The Bighorn Generating Station is a 598-megawatt, combined-cycle generating facility located... Read more..
Rive Technology, a leading catalyst engineering company for the petroleum refining industry, announced today that it will commence operations of a 10,000 square foot research and development facility in Monmouth Junction, New Jersey this November. Rive Technology is the developer of proprietary zeolite catalyst technology that expands characteristically small zeolite pores to enable the conversion of inexpensive, heavy crude oil into valuable, refined... Read more..