Search results for

Saudi Electricity Co. (SEC) , Saudi Arabia's state-owned power company, has hired HSBC and London law firm Clifford Chance to advise it on the development and tender of four independent power and water desalination projects that ultimately could account for the construction of some 7 GW of greenfield capacity. An HSBC financier confirms it has received a letter of intent from the SEC and says an official signing ceremony likely will take place later this month. HSBC beat competition from Citigroup and Credit Suisse First Boston among others, to land the mandate.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com . Seller Plants Location MW Plant Type Advisor Status ADWEA Um Al Nar Abu Dhabi 1,100 Gas & Water Desalination CSFB Int'l Power is acquiring the asset. AEP Fiddler's Ferry U.K. 2,000 Coal N/A Intention to sell. Fern Bridge U.K. 2,000 Coal AES Yarra Power Station Australia 510 Gas - Has appointed an advisor. Jeeralang Australia 449 Gas Mt Stuart Australia 288 Gas AES Fifoots Point Fifoots Point U.K. 363 Coal KPMG (Administrator) Looking to sell plant. Allegheny Energy Supply Armstrong Penn. 356 Coal J.P. Morgan In talks with Exelon Mitchell Penn. 442 Coal J.P. Morgan In talks with Exelon Alliant Energy Southern Hydro Victoria, Australia 500 Hydro N/A Intention to sell. American Electric Power/ Northeastern units 3 & 4 Okla. 300 Coal N/A Reviewing sale strategies. Central and Southwest Corp. Lon C. Hill Texas 546 Gas Nueces Bay Texas 559 Gas Ennis S. Joslin Texas 249 Gas BP Great Yarmouth U.K. 400 Gas J.P. Morgan Intention to sell. Calpine 11 QFs Calif. & East Coast 1,000 Gas Salomon Smith Barney Ongoing. Cinergy Cinergetika Czech Rep. 230 CHP J.P. Morgan Expects to sell assets shortly. Energetika Chropyne Czech Rep. 48 CHP EPR Ely U.K. 36 Straw Moravske Teplamy Czech Rep. 410 CHP Pizenska Energetika Czech Rep. 406 CHP Redditch U.K. 29 Gas Teptama Otrokovice Czech Rep. 349 (11%) CHP CMS Energy Loy Yang Melbourne, Australia 2,000 Coal Not chosen Announced intention to sell. Ensenada Argentina 128 Gas-fired J.P. Morgan CT Mendoza Argentina 520 Gas-fired J.P. Morgan El Chocon Argentina 1,320 Hydroelectric J.P. Morgan DPL All plants Ohio 3,500 N/A Morgan Stanley El Paso Europe Enfield U.K. 396 (25%) Gas No Advisor Looking to exit Europe EMA Power Hungary 70 Coal No Advisor Looking to exit Europe Kladna Czech Rep. 350 Coal No Advisor Looking to exit Europe Endesa Conatillor Chile 172 Hydro N/A Ongoing Enron Nowa Sarzyna Poland 116 PwC Ongoing. Sarlux Italy 551 (administrator) Trakya Turkey 478 Chengdu Cogen China 284 Northern Marianas Guam 80 Bantagas Philippines 110 Dabhol India 2,184 Subic Bay Philippines 116 Teesside U.K. 1,875 Enron Wilton U.K. 133 Coal/Oil/Gas Close Brothers Ongoing. Fife Power Fife U.K. 115 Coal KPMG (Administrator) El Paso placed plant in administration. IVO Energy Grangemouth*** U.K. 130 Gas - Looking to refocus in Nordic region. Edenderry Ireland 120 Peat LG&E Power Roanoke Valley N.C. 178 (50%) Coal N/A Sent out RFP in April Gregory Power Texas 550 (50%) Gas Palm Springs Calif. 42 (50%) Wind Tyler Minn. 27 (50%) Wind Van Horn Texas 41 (33%) Wind Tarifa Spain 30 (46%) Wind Mirant Birchwood Va. 119 Coal CSFB Ongoing. Kendall Mass. 270 Oil Shady Hills Fla. 474 Gas BofA Ongoing. Mirant West Georgia Ga. 640 Gas Ongoing Bosque County Texas 538 Wichita Falls Texas 77 Niagara Mohawk Power Nine Mile Point 1 N.Y. 1,614 Nuclear N/A Awaiting bids. Nine Mile Point 2 N.Y. 1,140 Nuclear N/A NRG/Xcel Gladstone Power Australia 1,500 (37.5% stake) Coal ABN AMRO Awaiting bids. (Asia) Flinders Australia 760 Coal Loy Yang A Australia 2,000 (25% stake) Coal Hsinchu Taiwan 400 (60% stake) Gasfired Lanco Kondapalli India 340 (30% stake) Gas/Oil Collinsville Australia 192 (50% stake) Coal NRG/Xcel TermoRio Brazil 1040 (50% sake) Gas Deutsche Bank Awaiting bids. (Latin America) COBEE Boliva 220 (98% stake) Hydro/Gas Itiquira Energetica Brazil 160 (98% stake) Hydro Cementos Pacasmayo Peru 66 Hydro/Oil Bulo Bulo Bolivia 90 (60% stake) Gas-fired Cahua Peru 45 Hydro NRG/Xcel CEEP Poland 10 (10% stake) - Goldman Has already sold two Eastern European plants. (Europe) Enfield U.K. 380 (25%) Gas-fired Awaiting further bids. MIBRAG Germany 238 (50% stake) Coal NRG/Xcel Big Cajun II La. 2,400 (90%) Coal - Has shortlisted three bidders. (U.S.) Pike Miss. 1,192 Gas Batesville Miss. 1,129 Gas Brazos Valley Texas 633 Gas Kaufman Texas 545 Gas Big Cajun La. 458 Gas McClain Okla. 500 (77%) Gas Bayou Cove La. 320 Gas Sabine River Texas 420 (50%) Gas Sterlington La. 202 Gas Mustang Texas 485 (25%) Gas Pryor Cogen Okla. 88 (20%) Gas Timber Fla. 13.8 Biomass Power Smith Okla. 80 (9.6%) Gas Oman (Ministry of Housing, Rusail Oman 730 Gas CSFB - Electricity & Water) Ghubratt Oman 507 CHP Wad AlJazzi Oman 350 Gas Ontario Power Generation Lennox Ontario 2,140 Oil, gas Merrill Lynch & Expects to sell Lennox and Lakeview shortly. Lakeview Ontario 1,140 Coal Scotia Capital Atikokan Ontario 215 Coal Thunder Bay Ontario 310 Coal PESG Global Tanir Bavi India 220 (74%) Naphtha - - Karpatalsm India 330 (20%) Naphtha - - PG&E National Energy Group Bear Swamp Mass. 599 Hydro Lehman Ongoing. Masspower Mass. 267 Gas Salem Harbor Mass. 745 Coal & Oil Millennium Mass. 360 Gas Pittsfield Mass. 173 Gas Brayton Point Station Mass. "1,599" Coal Manchester Street Station R.I. 495 Gas Lake Road Conn. 840 Gas Athens Generating N.Y. 1,080 Gas Polish Treasury Elektroncieplownie Poland CHP - Ongoing. Pozpnanskie Reliant Resource Argener Argentina 160 CHP Teco Power Services Hardee Power Fla. 295 Gas Goldman Ongoing TXU Lake Creek Texas 323 Gas Merrill Lynch Reviewing sales strategy. Tradinghouse Texas 1,340 River Crest Texas 110 Mountain Creek Texas 893 Parkdale Texas 327 North Main Texas 123 Monticello Texas 1,900 Coal Merrill Lynch Is looking to sell an undisclosed number of Martin Lake Texas 2,250 its coal assets. Big Brown Texas 1,150 Sandow Texas 545 TXU Europe Shotton U.K. 229 CHP PWC Awaiting bids.

Duke/Fluor Daniel, the engineering, procurement, construction and commissioning partnership between Duke Energy and Fluor Corp., is believed to have reached an agreement to take over the operation and maintenance (O&M) contract on a PG&E National Energy Group power plant in Mississippi.

FPL Energy is holding a bank meeting Tuesday to launch its long-gestated, non-recourse construction revolver, a deal that some market participants had questioned would ever see the light of day. The $400 million loan covers a 668 MW simple-cycle gas-fired peaker in Calhoun County, Ala., and a 744 MW gas-fired cogeneration plant in Marcus Hook, Pa. (PFR, 4/21).

Barclays Capital has reportedly been courting the U.K.'s state-owner nuclear generator, British Nuclear Fuels Ltd., to take over its roughly 3 GW trading and marketing function. BNFL sells some 15 TWh of power from its portfolio of aging nuclear reactors. An official close to Magnox Generation, the trading arm of BNFL, says Barclays is one of several companies that have recently pitched their services to BNFL, but he played down their chances of success. "Like any state-owned company, if it can be proved that money can be saved, then management would opt for a public and visible tender."

Wisconsin Electric Power, the utility unit of Wisconsin Energy, is tapping the fixed-income market for $635 million as part of a program to take out more expensive debt. The two-tranche offering is being used to retire callable debt of various maturities, says Peter Otersen, credit analyst at Standard & Poor's, which rated the deal A minus. Calls to Jeff West, treasurer at Wisconsin Energy in Milwaukee, were not returned by press time.

Bankers say it's unclear whether Calpine has landed lender approval for loan amendments allowing it to slow down construction on plants covered by a $3.5 billion brace of construction loans. Under a reworked deadline, the San Jose, Calif.-based IPP was looking for approval by May 2 and lenders had expected at least the $1 billion CCFC1 loan to get the go-ahead. But they note there has been no formal word from agent Bank of Nova Scotia. One financier says the word on the grapevine is that approval has been granted, but adds it is odd to have no formal word. Bank of Nova Scotia officials declined comment.

Société Générale is quietly gauging lender appetite ahead of launching around $400 million in loan financing for two EDF International generation projects in Mexico. The financing would be the largest non-recourse power transaction in Mexico in at least a year, say financiers, who are expecting the deal to hit the market within the next few months. SG officials declined comment.

Appalachian Power has landed sub 6% pricing for a $200 million slug of 30-year notes, achieving a cost of long-dated borrowing that the utility has not bettered for at least 10 years. Renee Hawkins, director-regulated finance, says the notes carried a 5.95% coupon and a five-year $200 million tranche was issued at 3.6%. "We're thrilled with being able to price a 30-year note under 6%," she reflects.

MidAmerican Energy, the utility holding company of the Warren Buffett empire, last week launched a $500 million loan package, with an option to upsize the deal by $100 million if investor demand is strong enough. The rollover facilities consist of a $200 million one-year corporate revolver, which will have a so-called green-shoe option of $100 million, and a $300 million three-year facility. Market officials say the loans will likely place well given the conservative profile of Des Moines, Iowa-based MidAmerican and the Buffett aura that normally greases the wheels on the company's financings.