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Société Générale has launched a tender process on behalf of Oman's Ministry of Electricity and Water to find a developer or consortium for the emirate's latest build-own-operate-transfer independent power and water desalination project. A SG official in London says the French bank was hired in March to advise on selecting an international IPP to develop the 500 MW/30 million gallons per day Sohar greenfield project.

InterGen and creditors to its 780 MW Rocksavage power plant in northwest England are looking to restructure the plant's project debt over the next month to relieve its financial burden. The costs associated with the unreliability of the plant's GT 26 turbines have prompted the move, explains a financier who attended a Rocksavage restructuring meeting in London last week.

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 .

Lenders toKillingholme Power, the bank-owned U.K. generator, has restructured its GBP340 million ($548 million) of project debt into a three tranche loan that, by offering varying levels of non-performance, allows debt-servicing levels to be met. The deal was inked last month (PFR, 3/31).

Electricité de France and its advisor Merrill Lynch are set to send out a sale prospectus within the next week to launch the auction of EdF's stake in Stockholm-based vertically integrated utility Graninge and at least four energy companies reportedly are preparing bids for the roughly EUR400 million ($450 million) stake. A banker at Merrill declined to comment.

The Abu Dhabi Water and Electricity Authority (ADWEA) last week launched its fifth large-scale independent water and power project (IWPP), just a week after retaining an International Power-led consortium to acquire and expand its Umm Al Nar plant.

London-basedInternational Power is considering transferring control of its two U.K. power plants into a new U.K. generation company if project lenders' idea of setting up a bank-sponsored IPP and operated by International Power gets off the ground. Phil Cox, cfo, says IP might put its 1 GW Rugeley coal-fired plant and 500 MW Deeside combined-cycle gas fired plant into the mix as a way of giving the bank-sponsored entity critical mass. For it to operate successfully in the U.K.'s highly competitive wholesale market the new genco would need between 5-10 GW of generation capacity, he argues.

Geneva-basedVitol , one of the world's largest independent oil trading companies, is readying a securitization of trade receivables. The $150 million deal is the company's second and will be completed through its master trust vehicle, says Parker Russell, the banker heading up the deal at ING Bank in London. He did not say when the deal would hit the market.

*Gas Natural faces the prospect of entirely revamping its offer Iberdrola or withdrawing its $15.1 billion bid after a Spanish regulator dealt an unexpectedly heavy blow to its seven-week pursuit. Spain's National Energy Commission rejected the gas distributor's hostile cash-and-share bid but gave no public explanation behind its decision (Dow Jones, 4/30).

A former senior executive at TXU has filed a lawsuit against the Dallas energy giant under the whistleblower provision of the Sarbanes-Oxley Act, claiming he was unfairly dismissed for questioning TXU's financing and disclosure practices, including the alleged massaging of earnings and misguidance of shareholders. The suit, filed in the Dallas Division of the U.S. District Court on April 28, seeks compensation under the Sarbanes-Oxley legislation, which was enacted just last year by Congress to prevent Enron-type scandals being repeated across corporate America. Hal Gillespie, an attorney at Gillespie, Rozen & Watsky, the Dallas-based law firm representing the plaintiff, William (Jim) Murray, says to the best of his knowledge this is the first suit filed under the Sarbanes-Oxley law.