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Weir’s shares rise after American Hydro acquisition

  • 14 years ago (2010-11-22)
  • Junior Isles

Shares in Weir Group recently surged to a record high as the Glasgow-based engineering company announced the acquisition of American Hydro Corporation, which makes turbine components for hydro power generation.

Ontario Power reports 30 per cent profit increase

  • 14 years ago (2010-11-20)
  • Junior Isles

Ontario Power Generation’s third-quarter profit increased to $333 million, compared with $259 million for the same quarter last year. Reports say this increase was likely caused by higher electricity prices this year.

Mahindra Group considers a solar power venture

  • 14 years ago (2010-11-17)
  • Junior Isles

India-based Mahindra Group is reportedly making plans to move into the solar energy generation business, according to an industry source. It is also looking for a partner in order to bring in domain expertise as well as extra funding for the venture.

China reveals latest electricity figures

  • 14 years ago (2010-11-16)
  • Junior Isles

Chinese power generation grew 14.9 per cent year-on-year to 3421.6 TWh in the first 10 months of 2010, including 563 TWh from hydropower, 2737.7 TWh from thermal power and 59.7 TWh from nuclear power.

Saudi Arabia to expand Qassim power plant

  • 14 years ago (2010-11-14)
  • Junior Isles

The Saudi Electricity Company (SEC) has signed a contract worth SAR 1.43 billion to expand the electricity power generation plant in Qassim to meet the growing demand for energy in the province.

AES to spend $15 billion on Indian power sector

  • 14 years ago (2010-11-14)
  • Junior Isles

US power producer AES Corp. plans to spend as much as $15 billion to increase capacity in India. The Arlington, Virginia based company has operations in 29 countries and hopes to earn 10 per cent of its revenue from its Indian projects in five years.

Dubai encourages private sector power projects

  • 14 years ago (2010-11-12)
  • Junior Isles

The Dubai government is to allow the private sector’s role in power generation to rise to 49 per cent by 2030, as part of a strategy to diversify the emirate’s utility sector, according to Vice-Chairman of the Supreme Council of Energy, Saeed Mohammad Al Tayer.

Reliance agrees to $2.2 bn deal with GE

  • 14 years ago (2010-11-09)
  • Junior Isles

India’s Reliance Power has agreed a $2.2 bn deal with General Electric after securing a $5bn loan from the US Export-Import bank for buying US goods and services over the next three years.

Mitsui takes 30 per cent stake in Spanish solar firm

  • 14 years ago (2010-11-06)
  • Junior Isles

Mitsui & Co. will participate in the solar power generation business in Spain by purchasing a 30 per cent stake in local solar power company Guzman Energia SL.

Mobil gets generation boost from new Nigerian gas

  • 14 years ago (2010-11-04)
  • Junior Isles

The Nigerian Government’s plans to increase domestic power generation capacity, currently about 3000 MW, look more realistic after Mobil Producing Nigeria Unlimited (MPN), a subsidiary of Exxon Mobil Corporation, announced the discovery of a rich gas condensate, off the shore of Akwa Ibom State.