DukeSolutions, a subsidiary of Duke Energy, has acquiredprivately held Engineering Interface Limited of Toronto and itsmain subsidiary Tescor Energy Services, Inc. The new company willbecome the Canadian operations for DukeSolutions. Terms of theacquisition were not disclosed.
Articles from Acquired
PP&L Resources Inc. announced that it acquired Penn FuelGas, a gas distributor and storage company, in a stock transactionvalued at $133 million. The purchase was the latest step by theutility company to diversify its portfolio of energy products andservices, said PP&L Resources President William F. Hecht.
Williams took a bigger jump into the energy marketing businessyesterday by announcing it has acquired full ownership ofEnergyVision by purchasing the 50% interest in the company that washeld by BEC Energy. Terms of the transaction were not disclosed.
Independent power producer Calpine Corp. acquired Dow Chemical’s70 MW gas-fired power plant at Dow’s Pittsburg, CA, chemicalfacility for about $13 million. The deal includes Dow’s gaspipeline system that provides the plant with low-cost fuel fromSacramento basin gas fields. Key to the transaction is Calpine’splan to build a 500 to 700 MW gas-fired power plant adjacent toDow’s Pittsburg chemical plant. The new power plant will requirecapital of $250 million to $350 million and will generate enoughelectricity to power half a million households. The existing plantuses 16,000 MMBtu/d, and the new plant will use 80,000 to 90,000MMBtu/d.
KN Energy made a decision to discontinue its mc2 retail energymarketing unit, which was acquired when KN purchased MidCon Corp.earlier this year. KN said mc2’s business strategy clashed withthat of KN Services and en-able, KN’s retail energy marketing andservices joint venture with PacifiCorp.
In a transaction making it the largest independent powerproducer in Texas, Calpine Corp. acquired the remaining 50% interest in Texas Cogeneration Co. (TCC), owner of two gas-firedpower plants in Texas City and Pasadena, TX, with 827 MW ofcapacity. Calpine of San Jose, CA, bought the remaining interest inTCC from Dominion Cogen Inc. for about $53 million, plus contingentpurchase payments beginning in 2000 that could approximate 2.9% ofproject revenue. As part of the deal, Calpine now owns a 7.5%interest in a 165 MW gas-fired cogeneration plant located inBayonne, NJ. Calpine Fuels Texas, a subsidiary of Calpine, buys gasfor the Texas plants from Enron Capital & Trade Resources(ECT). In a related transaction, Calpine Fuels Texas paid about$105 million to ECT to restructure its existing gas contracts.
Texas Utilities Co. Tuesday acquired 72,560,178 Energy GroupShares at 840 pence/share, representing about 13.9% of The EnergyGroup’s issued share capital. The 840 pence/share offer was thelatest in the bidding war between TXU and PacifiCorp for theBritish Utility.