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The long-awaited auction of Abu Dhabi's Um Al Nar power and water project finally heats up next month with three surviving bidders set to submit sealed offers to land the 1.7 GW plant acquisition and expansion mandate. Bankers say two consortia comprising Tractebel and Enel Power, and International Power, Mitsui and Tokyo Electric Power Co., and a solo bidder,TotalFinaElf , are all that remain of a nine strong pre-qualification roster announced this spring (PFR, 4/22).

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 .

Dallas-based TXU is planning to tap the U.S. bond market with a $1.6 billion public offering but is waiting on the sidelines until investor sentiment has improved. A banker close to the company says the Texan energy giant has retained Barclays Capital to lead the deal and is looking to make the offering as part of its routine capital raising and balance sheet management function. He declined to comment on the likely structure and pricing details. A TXU official confirmed the plan, but would not discuss the matter further. Carol Peters, a spokeswoman at TXU, declined to comment citing company policy. Officials at Barclays also declined comment.

* Hong Kong power producer CLP Holdings said mainland China authorities approved its plan to buy a 70% stake in a 600 MW coal-fired power plant under construction in the southwestern Chinese province of Guizhou (Dow Jones, 9/20).

Despite the lack of tie-ups to date, power players remain optimistic that joint ventures between credit-impaired energy trading shops and deep-pocketed financial players or utilities will emerge over the coming months. They add it's more likely that J.V.s will be cemented in the fall when energy-trading flows typically wane after the flurry of summer activity. The lack of activity at this time could force trading shops to find a partner, they argue.

Energias Eolicas Europeas's $862 million wind farm non-recourse loan, arranged last spring, is edging toward a technical default because of construction delays besetting the Spanish project. The jumbo 1,173 MW portfolio of wind farms was scheduled to be fully commissioned by Dec. 31, but a slower-than expected permitting process and the need to switch turbine supplier from Enron Wind to General Electric in the wake of Enron's collapse, have pushed back construction by six months, says a financier involved in the deal.

HypoVereinsbank is presently talking with three banks about taking sub-underwriting co-arranger slots on a EUR213 million Spanish wind project loan it signed last month with Euroventa Wind Energy, a joint venture between Terranova Energy and Tomen Power. Björn Domke, a project financier at HVB in Munich, says the firm is only looking for a small co-arranger group because it anticipates healthy demand during general syndication next month. Indeed, Domke says some 26 banks have already made unsolicited calls to HVB about participating in the deal. HVB hopes to launch syndication in two weeks.

Goldman Sachs is quietly rebuilding its New York power trading team following the termination of a non-compete clause with Constellation Energy earlier this year. Rivals and headhunters say the firm is hiring and recently landed Eleanor Morrison, formerly with Allegheny Energy, who joins today. Alan Yamamura, v.p. on the desk, referred questions to more senior colleagues, none of whom were available by press time. Calls to Goldman media relations officials were not returned and Morrison could not be reached.

Electricité de France has stunned market watchers by awarding BNP Paribas the second advisory mandate for its upcoming privatization and partial floatation. French power sector investment bankers had been predicting right up until the eleventh hour late last week that Deutsche Bank was a shoo-in to land the prized role (PFR, 8/12). The state-owned utility had already retained Paris-based NM Rothschild as one of its advisors. EdF spokesman Stephan Gabard, and Olivier Petros, Deutsche Bank's coverage banker for EdF, did not return calls.

Bonds Issue Date Maturity Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Spread To Treasury Moody's S&P Bookrunner(s) 8/8/02 8/23/05 BG Energy Capital 61.6 100 Fxd/Straight Bd 5.03 60 A3 A- HSBC 8/8/02 8/21/07 BG Energy Capital 24.2 100 FRNs Floats - A3 A- Dresdner 8/8/02 8/27/10 Kraftwerk Laufenberg 66.8 100.75 Fxd/Straight Bd 3.75 - NR NR Zuerchner 8/8/02 8/15/03 SCANA Corp 100 100 Mdm-Trm Fl Nts Floats - A3 BBB+ CSFB/BoNY 8/8/02 8/14/07 United Utilities 19.2 100 FRNs Floats - A2 A- ICBC-ASIA 8/13/02 2/22/06 BG Energy Capital 24.4 100 FRNs Floats - NR NR HSBC 8/13/02 5/10/03 Edelnor 4 Market Obligations 5 - NR NR N/A 8/13/02 8/8/03 Edelnor 2.8 Market Obligations 5.25 - NR NR N/A M&A Date Date Target Name Target Advisors Target Acquiror Name Acquiror Acquiror Deal Value Announced Effective Country Advisors Country ($mil) 8/8/02 - Aquila Inc-Gas Storage Credit Suisse First Boston Int U.S. PacifiCorp Power Marketing - U.S. 180 8/8/02 8/8/02 Goss Utility - U.S. Hydraulics - U.S. 0.212 8/9/02 8/9/02 Ten Mile And Desert Fields - U.S. Rocky Mountain Energy - Canada 3 8/12/02 - Central Tsiomos & Karamanos - Greece Themeliodomi - Greece - 8/12/02 - Gas Recovery Systems - U.S. Clean Power Income Fund Probyn Canada 93 8/12/02 - Karachi Elec Supply - Pakistan ADB - Supranational - 8/12/02 8/12/02 WindWelt - Germany Eifelstrom - Germany - Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.