More Business Transactions & Transitions

IFC signs services agreement for hydroelectric development with Myanmar


World Bank Group member, International Finance Corp., in September signed an advisory services agreement with the government of Myanmar to help improve environmental and social risk management in hydropower projects, according a press release from the IFC.  

Weather watching


GCube, the renewable energy sector insurance underwriter, has launched a new Weather Risk Transfer mechanism to provide renewable energy project owners with a means to mitigate the financial impact of resource volatility. In this case the product covers wind and rain – or perhaps more accurately, a lack thereof.

SEFA approves funding for Africa's 20-MW Saltinho hydropower project


The Sustainable Energy Fund for Africa has awarded a US$965,000 grant to support the development of a 20 MW hydropower project in Saltinho.

GE names Reimelt president, CEO of Power Conversion business


Stephan Reimelt has been appointed president and chief executive officer of GE’s Power Conversion business, succeeding Joe Mastrangelo, who becomes president and CEO of Power Generation Products for GE Power & Water. 

Nepal's 335-MW Upper Arun, 30-MW Ikhuwa Khola hydropower plants receive World Bank backing


The Government of Nepal has received a US$20 million credit from the World Bank to help implement its Power Sector Reform and Sustainable Hydropower Development Project.

Snohomish County PUD issues bonds for pair of new hydropower projects


The Snohomish County Public Utility District has issues about $40 million in tax-exempt bonds that will help pay for the design and construction of two new hydroelectric plants.

Kade named Of Counsel at Van Ness Feldman


Tyson Kade has been promoted to Of Counsel at law firm Van Ness Feldman.

KIC InnoEnergy makes its largest-ever single investment: US$3.84 million to MHK developer Minesto


On Sept. 25, marine hydrokinetic (MHK) company Minesto announced it received a US$3.84 million capital investment from KIC InnoEnergy (KIC IE), making it the largest-ever single investment by KIC IE in the MHK energy market.  

Subsea cables installed for 398-MW MeyGen tidal array project


The principal contractor hired by Atlantis Resources Ltd., James Fisher Marine Services Ltd., successfully laid four subsea cables on Sept. 21 at the planned 398-MW MeyGen tidal array project located in the Inner Sound development zone of Scotland's Pentland Firth. 

International Hydropower Association announces new leadership


Ken Adams has been re-selected president of the International Hydropower Association, and other leaders were announced during the first meeting of the new board.

Brazil reschedules upcoming hydroelectric power auction


A Brazilian energy auction that includes about 6 GW of cumulative hydroelectric power capacity has been postponed to November 6, according to the country's Ministry of Mines and Energy.

Brazilian government announces terms of upcoming hydroelectric power auction


Signature bonuses signed by power generators in an upcoming hydroelectric power auction will net the Brazilian government about US$4 billion, according to terms of a resolution published this week in Brazil's official gazette.

The Crown Estate launches small-scale MHK leasing program


The Crown Estate, one of the largest property owners in the United Kingdom, has launched a program of offshore leasing for small-scale marine hydrokinetic (MHK) testing and demonstration projects less than 3 MW. 

CEC gets go-ahead for 40-MW Kabompo Gorge hydropower plant


An implementation agreement signed this week by the Republic of Zambia and the Copperbelt Energy Corp. essentially serves as the approval for development of the 40-MW Kabompo Gorge hydroelectric plant.

Hedcor receives financing for 68.8-MW Manolo Fortich hydroelectric plant


Aboitiz Power subsidiary Hedcor Bukidnon has secured a loan worth about US$213.2 million to develop the 68.8-MW Manolo Fortich hydroelectric plant, according to a disclosure filed this week with the Philippine Stock Exchange.

Winding up hydro with composite shaft bearings


A new hydrodynamic hybrid bearing and shaft seal has been launched into the hydropower sector by Wärtsilä. The bearing is manufactured from fibre and epoxy-based composite materials.

Guinea considering Chinese partner to build 550-MW Souapiti hydro


The energy ministry of Guinea is reportedly looking to partner with a Chinese company to build the 550-MW Souapiti hydro project.

AFD financing to help rehab Pakistan's 243-MW Warsak hydropower plant


The French Agency for Development has guaranteed a loan worth up to about US$46.3 million to help Pakistan rehabilitate its 243-MW Warsak hydropower plant.

Hydro seal supplier A.W. Chesterton announces addition of Homiller


A.W. Chesterton Company, a hydro seal supplier, announces the appointment of Jacob Homiller as senior vice president of global business management and chief sales officer.

Uganda awards ILF Consulting Engineers a contract for the 44.5-MW Muzizi hydroelectric project


In August, Uganda Electricity Generation Company Ltd. (UEGCL) awarded a US$95 million design and construction supervision consultancy services contract to ILF Consulting Engineers the for the 44.5-MW Muzizi hydroelectric project. The government of the Uganda Republic owns UEGCL. 

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