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Digest

Fortnightly Magazine - August 2013

Siemens supplied each plant with an SGT5-4000F gas turbine, an SST5-5000 steam turbine, a hydrogen-cooled SGen5-2000H generator, complete electrical equipment, and an SPPA-T3000 instrumentation and controls system.

Siemens was awarded a contract to supply power plant components, including six F-class gas turbines, for the Ras Djinet and Ain Arnat combined-cycle power plants in Algeria, totaling more than 2,000 MW of capacity. The clients are Daewoo E&C and Hyundai Engineering, Korean companies that are building the two power plants for the state utility, Sociéte Algérienne de Production de l’Electricité (SPE). Siemens’s scope of delivery includes a total of six SGT5-4000F gas turbines, six SST5-3000 steam turbines, and six SGen5-2000H generators. In addition, Siemens will provide technical support and services for construction and commissioning of the six power trains. 

M&A

Shortly after the New York State Public Service Commission (NYSPSC) approved Fortis’ agreement to acquire CH Energy Group, the companies completed the transaction. On Feb. 21, 2012, Fortis agreed to acquire CH Energy Group – parent company of Central Hudson Gas & Electric – for $65 in cash per share, totaling a purchase price of approximately $1.5 billion, including the assumption of approximately $500 million of debt. Central Hudson is a regulated transmission and distribution utility serving approximately 300,000 electric and 75,000 natural gas customers in New York’s mid-Hudson River valley. 

The Federal Energy Regulatory Commission (FERC) approved Entergy’s plan to spin off its electric transmission business and merge it into an ITC Holdings subsidiary. In addition, FERC also approved new rate constructs for the transmission assets under ITC ownership. This approval follows FERC’s approval in May authorizing utility operating company financing. ITC and Entergy expect to complete the transaction this year, pending additional approvals. 

People

ABB appointed Ulrich Spiesshofer as CEO of its discrete automation and motion (DM) division. He succeeds Joe Hogan, who will continue with ABB for some months as senior advisor to the board. Spiesshofer joined ABB’s executive committee in 2005 and was named responsible for ABB’s DM division in 2009. 

Babcock & Wilcox (B&W) named Mark Carano as senior v.p. and chief corporate development officer. Since 2006, Carano served as managing director, investment banking, for Bank of America Merrill Lynch’s global diversified industrials and services group.

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