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

Westermost Rough offshore wind park enters operations

The 210-MW offshore wind power plant, Westermost Rough, has entered operations. The project w...

Duke Energy to upgrade energy storage system at Notrees Windpower Project

Duke Energy (NYSE: DUK), Samsung SDI and Younicos will work together to update Duke Energy's ...

Wisconsin Energy acquires Integrys, forms WEC Energy Group

Wisconsin Energy Corp. successfully acquired Integrys Energy - forming the WEC Energy Group (...

Regulator rejects Iberdrola plan to buy Connecticut utility

Connecticut regulators have taken a step toward rejecting a plan by Iberdrola, Spain's leadin...

Largest Southern Co. subsidiary enters rooftop solar market

The largest Southern Co. subsidiary will start selling and installing solar panels on homes W...

Wisconsin Supreme Court upholds wind turbine rules

The Wisconsin Supreme Court upheld the state's wind turbine construction rules Tuesday, sayin...

After mercury ruling, higher scrutiny of Obama climate rules

Sweeping pollution limits at the center of President Barack Obama's climate change plan are f...

Coal plant operator says Colstrip remains profitable for now

The formation of a new company to run Montana's largest power plant has raised questions amon...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
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 | 2014 | 2015

Power Industry Wire News

SafeWorks Acquires DualLift GmbH (DL)

SafeWorks Acquires DualLift GmbH (DL)

NuTech Energy Resources Debuts Trading on OTC Markets

NuTech Energy Resources Debuts Trading on OTC Markets

MyDx to Host Virtual Roadshow on July 15, 2015

MyDx to Host Virtual Roadshow on July 15, 2015

Envision Solar's EV ARC(TM) Is Featured at the International Parking Institute Conference and Expo

Envision Solar's EV ARC(TM) Is Featured at the International Parking Institute Conferen...

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

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 >>