Search results for

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 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 ADWEA Um Al Nar Abu Dhabi 1,100 Gas & Water Desalination CSFB Expected to send out RFPs in December. Central Hudson Gas & Electric Syracuse N.Y. 100 CHP Navigant Final bids due by late Nov. Beaver falls N.Y. 100 CHP Niagara falls N.Y. 52 Coal 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 Enel Eurogen Italy 7,008 Various - Having sold Elettrogen it will sell one of two Interpower Italy 2,611 Various - other generation portfolios shortly. Enron Bahia Las Minas Panama 355 PwC Intention to sell. Pueto Quetzal Guatemala 110 (administrator) PQPLLC Guatemala 124 Margarita II Nicaragua 70.5 EcoElectrica Puerto Rico 507 Puerto Plata Dominican Republic 185 Cuiaba Brazil 480 Nowa Sarzyna Poland 116 Sarlux Italy 551 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. 1875 Wilton U.K. 154 IVO Energy Brigg U.K. 240 Gas BNP Paribas Preparing information memo. South Humber U.K. 1,240 Gas Grangemouth*** U.K. 130 Gas Edenderry Ireland 120 Peat Independent Energy Various U.K. 130 N/A KPMG KPMG is handling the asset sale after Independent Energy went into receivership. MARCOR Remediation - Calif. 5.7 Wood - - (A broker acting for an undisclosed seller) 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 North Atlantic Energy Seabrook* N.H. 408 Nuclear N/A Must be sold by Dec. 2003. Oman (Ministry of Housing, Rusail Oman 730 Gas - - Electricity & Water) Ghubratt Oman 507 CHP Wad Al-Jazzi 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 Mississagi River Ontario 490 Hydro Pacific Gas & Electric 68 Plants Calif. 3,800 Hydro Morgan Stanley Awaiting PUC approval. Expect sale to close shortly. Public Service Co. of New Merrimack N.H. 475.8 Coal J.P. Morgan Subject to approval for rate settlement by PUC Hampshire (Northeast Utilities) Newington N.H. 415 Oil/gas and state legislature. Schiller N.H. 146.6 Oil/gas Lost Nation N.H. 19.1 Diesel Merrimack N.H. 42.2 Diesel Schiller N.H. 18 Diesel White Lake N.H. 23 Diesel Amoskeag N.H. 17.5 Hydro Ayers Island N.H. 9.1 Hydro Canaan Vt. 1.1 Hydro Eastman Falls N.H. 6.5 Hydro Garvins Falls N.H. 12.1 Hydro Gorham N.H. 2.1 Hydro Hoolsett N.H. 1.95 Hydro Jackman N.H. 3.55 Hydro Smith N.H. 14.2 Hydro Reliant Resources Reliant Energy Power Netherlands 3,476 Mixture Merrill Lynch Is looking to seal sale imminently Generation Benelux Argener Argentina 160 CHP - - ScottishPower Hazelwood Victoria, Australia 1,600 Coal CSFB Final bids due shortly. 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 its Martin Lake Texas 2,250 coal assets. Big Brown Texas 1,150 Sandow Texas 545 Wisconsin Energy Bridgeport Conn. 1,100 (combined) - - Has put up for sale following collaspe New Haven Conn. 1,100 (combined) of NRG deal. * North Atlantic Energy owns 34.8% of Seabrook *** Fortum owns 75% of Grangemouth. Mitsubishi owns the remainder.

Bonds Date Maturity Issuer Amount Price Type of Security Coupon (%) Moody's S&P Book Manager(s) 01/17/02 02/01/12 Vivendi Environnement 660.5 99.52 Fxd/Straight Bd 5.875 NA A BNP PARIBAS/NBP 01/17/02 01/29/07 RWE 132.5 99.841 Fxd/Straight Bd 4.75 Aa3 AA- BNP PARIBAS 01/22/02 03/25/26 United Utilities (Norweb) 143.6 143.165 Fxd/Straight Bd 8.875 A2 NA RBS 01/23/02 12/28/05 Nederlandse Waterschapsbank 100 99.081 Fxd/Straight Bd 4.25 Aaa AAA RBC M&A Date Announced Date Effective Target Name Target Country Acquiror Acquiror Country Value ($mil) 01/18/02 01/18/02 Emelec Ecuador AES U.S. - 01/18/02 - Houay Ho Power Laos Houay Ho Tahi Thailand 10 01/18/02 01/18/02 Vermont Yankee Megawatt Plant U.S. Investor Group U.S. 5.4 01/21/02 - Arcos de la Frontera Power Spain Electrabel Belgium - Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Goldman Sachs has transferred Richard Bronks, managing director and co-head of commodities in New York, to its London office in a move that appears to signify a sharper focus on the European commodity market. Bronks, who landed in London earlier this month, referred calls to Isabelle Ealet, managing director in the commodity group in London. Ealet did not return calls.

The Abu Dhabi Water & Electricity Authority (ADWEA) has decided to forge ahead with plans to privatize and expand capacity at Um Al Nar Power Co. and has asked international developers to submit initial bids within the next few weeks.

Isabelle Hayen, European utility analyst at Goldman Sachs in London, has crossed the bulge bracket firm's Chinese wall to join its power sector M&A advisory business. Richard Morse, managing director and head of Goldman's U.K. power advisory franchise, explains the move reflects Goldman's desire to bulk up the business.

The Kingdom of Saudi Arabia plans to begin deregulating its power sector shortly with the establishment of an independent regulator and the break up of its state-run utility. With the power sector needing over $26 billion of investment over the next five years, the reforms must win the support of international banks and developers, writes James Gavin, a freelance journalist.

Vittorio Perrona, an investment banker at Dresdner Kleinwort Wasserstein in Rio de Janeiro covering Latin American utilities, relocated to the firm's London headquarters earlier this month to cover the European power industry and lessen his focus on Latin America, say bankers familiar with the matter. This move is part of the firm's strategy to reduce its presence in Latin America in light of the lull in merger & acquisitions activity last year, they say.

Argentina's devaluation may have caused panic among utility sector investors exposed to the region, but analysts say the reaction has been exaggerated and that the crisis is unlikely to impact companies' earnings significantly. The power companies with the most assets in Argentina, including Endesa, AES, PSEG Global and Duke Energy International, all have minimal exposures compared to their overall financial strength, they add.

UBS Warburg's attempt to acquire Enron's wholesale power and gas trading operation had veterans of the Swiss bank's commodities trading business scratching their heads at the firm's apparent strategic U-turn last week. UBS shut most of its profitable commodity trading operation in 1998. The bid to acquire Enron's trading unit was awaiting bankruptcy court approval as PFR was going to press Friday. A UBS spokesman in Zurich declined comment, pending the court's decision.

DTE Energy issued $180 million of trust preferred securities last week in order to refinance at cheaper levels some of the debt load carried by its recently acquired gas outfit MCN Energy Group.