GE sells hydro business to Pescarmona

21 December 2006 -- GE announced that it has signed a definitive agreement to sell GE Energy's hydro business to Pescarmona Group of Companies (PGC), a multinational, privately held group with a strong focus on the hydro industry.

This sale includes GE Energy's worldwide hydro business, excluding GE's hydro operations in Norway and Sweden. An offer by PGC to purchase the operations in Norway and Sweden is under consideration and after due consultation of local works councils, could result in a subsequent sale agreement.

Terms of the agreement were not disclosed. The closing of the transaction is subject to customary conditions, including the receipt of regulatory approvals, and discussions with works councils and other third parties, and is expected to occur during the first quarter 2007.

Besides having its main focus on the hydro industry, PGC maintains a presence in businesses such as wind power generation and equipment, port systems, automobile parts, control systems, environmental services and insurance with operations in 27 countries.

IMPSA is a global provider of integrated solutions for renewable energy generation through 160 projects in more than 40 countries. The group maintains a presence in Argentina, Brazil, Ecuador, China, India, Malaysia, the Philippines, Venezuela, Columbia, United States, Spain, South Africa and Indonesia.

Sponsored by FLSmidth

Related Articles

Profiling Geothermal Energy in North America

North America holds diverse geologic conditions, economic and political contexts, and geothermal experiences.

Energy Reform Package to Increase Competition And Private Sector Opportunities in the Mexican Power Industry

In April, Mexican President Enrique Pena Nieto proposed a legislative reform package that was approved by the Mexican Congress, overhauling the nation's energy industries.

Follow Power Engineering on Twitter
Latest News

NuScale completes upper module mockup of small nuclear reactor

NuScale Power LLC said it completed fabrication and assembly of a full-scale, upper module mo...

Farley nuclear power plant goes offline for scheduled outage

Workers at the Farley nuclear power plant in Alabama took Unit 1 offline for a scheduled refu...

GE Hitachi Nuclear Energy dedicates reactor training area

GE Hitachi Nuclear Energy (GEH) dedicated its new boiling water reactor under-vessel training...

Shell Chemical nears air permit for 250-MW power project in Pennsylvania

Shell Chemical Appalachia LLC is close to an air permit from the Pennsylvania Department of E...

NRG seeks Texas approval to buy power plant being moved from Mississippi

NRG Texas Power LLC applied March 27 at the Public Utility Commission of Texas for approval o...

VIDEO: One nuclear power steam generator’s trip to the Summer plant site

New video from Westinghouse Electric shows the journey the one steam generator took from the ...

Nation's biggest nuclear firm makes a play for green money

A big player in the troubled nuclear power industry is trying to change the rules of the ener...

Emerson awarded $76mn ultrasupercritical coal-fired automation project

Emerson Process Management, a subsidiary of Emerson (NYSE: EMR), was awarded a $76 million co...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

Yuma Energy, Inc. Announces 2014 Financial Results and Provides an Operational Overview

Yuma Energy, Inc. Announces 2014 Financial Results and Provides an Operational Overview

DEKRA to Present New Algorithm for Faster and More Reliable Advanced Driver Assistance Systems at SAE 2015 World Congress

DEKRA to Present New Algorithm for Faster and More Reliable Advanced Driver Assistance ...

Dozens of Local Companies to Participate at Converters Expo in the Heart of Green Bay

Dozens of Local Companies to Participate at Converters Expo in the Heart of Green Bay

Clear Measure Names Chief Architect, Hires Principal Software Engineers

Clear Measure Names Chief Architect, Hires Principal Software Engineers

Save the Date: 8th Annual Whale Shark Festival Announced for Isla Mujeres

Save the Date: 8th Annual Whale Shark Festival Announced for Isla Mujeres

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>