The merger of Duke Energy and Cinergy became effective April 3. Duke Energy becomes the largest electric utility in the United States with more than $70 billion in assets, 50,000 MW of generating capacity and 5.5 million retail electric and gas customers in Ohio, Kentucky, Indiana, North Carolina, South Carolina and Canada.
As part of British Nuclear Fuel’s (BNFL) restructuring process and the UK government’s decision to sell Westinghouse, Westinghouse will assume the 15 percent share of South Africa’s PBMR Ltd - the unit responsible for the Pebble Bed Modular Reactor - previously held by BNFL.
Emerson has acquired Bristol Babcock - maker of remote terminal units, flow computers, transmitters and distributed process controllers - from FKI of Loughborough, England. Bristol becomes part of Emerson Process Management.
The Wyoming Public Service Commission has approved acquisition of PacifiCorp by MidAmerican Energy Holdings Company. Wyoming is the last of six states where PacifiCorp provides electric service to provide written approval of the transaction.
J-POWER USA, formed to pursue expansion in the North American wholesale power market on behalf of parent Electric Power Development of Tokyo acquired 62 percent of the direct and indirect ownership interests in Tenaska Frontier Partners, an 830 MW combined-cycle plant in Texas. Frontier was among the first power plants in the U.S. capable of dispatching to two grids - ERCOT and SERC. Total output is under long-term contract to Exelon Generation.
Energy Investor Funds has acquired a management stake in Tenaska Washington Partners, owner of a 270 MW dual-fueled combined-cycle plant near Ferndale, Wash. that sells its electric capacity and energy to Puget Sound Energy, and its steam to an adjacent refinery.
Calpine has agreed to sell its 45 percent interest in the 525 MW Valladolid III plant currently under construction on Mexico’s Yucatán Peninsula to remaining partners Mitsui & Co. and Chubu Electric Power for approximately $43 million. To speed emergence from Chapter 11 bankruptcy, Calpine has identified about 20 power plants in operation, under construction or no longer considered to be core operations that it hopes to sell by the end of this year.
Energy Investors Funds’ United States Power Fund II and USPF II Institutional Fund have acquired 14 hydroelectric plants in California, Michigan, Illinois, Virginia, North Carolina and South Carolina from affiliates of Northbrook Energy. A Northbrook Energy subsidiary will continue to operate the plants.
Sempra Energy and Riverstone Holdings have agreed to sell the jointly owned 632 MW Coleto Creek coal-fired power plant in Goliad County, Texas to International Power for $1.14 billion.