Business news with words energy+plans+power. 36 news.

Westar Energy still plans to pursue three wind-power projects, but says an order from state regulators curtailing its potential profits will prevent it from investing in additional wind farms. Westar had hoped regulators would allow it to earn higher profits because of its investment in 295 megawatts of generating capacity from wind farms in three counties. That's enough to power about 88,000 homes. The Kansas Corporation Commission said Thursday that the Topeka-based utility would be allowed to recover up to $282 million in construction costs through its rates. But the commission refused an additional 1 percent increase in the profits Westar can earn from wind energy. Westar had said it would pursue projects for an additional 200 megawatts of wind-generated capacity. But Bill Moore, the utility's president and chief executive, said Friday that those plans are on hold indefinitely.

Energy Northwest is abandoning plans to consider injecting some carbon dioxide emissions underground at its proposed Pacific Mountain Energy Center near Kalama. The 793-megawatt project initially was touted as a candidate for the country's first large-scale power station that wo …

Britain is planning to boost wind power generation to produce enough electricity to power every home in the nation by 2020 in a policy shift signalling less reliance on nuclear energy, the Independent on Sunday reported.

The UK plans to open up the seas around the country to create 25 gigawatts of additional energy capacity, moving a step closer to become the world leader in offshore wind power generation

Plans to liberalise Europe's energy markets are in disarray THE European Commission this week called for yet another scheme to promote energy liberalisation after opposition by France and Germany blocked two earlier proposals. In September the European Union's energy commissioner, Andris Piebalgs, offered two paths to a single European energy market. Integrated power companies could either unbundle their gas pipelines or electricity grids into separate companies, or keep them but run them at arm's length. The idea was to open the European market by making it easier for small energy companies to buy and sell power across Europe, with the hope this would lower prices. Independent network companies would be more likely to upgrade facilities by, for instance, improving cross-border links. ...

CHINA Shenhua Energy Co, the world's second-largest coal company, could raise almost US$80 billion to spend on acquisitions of mines, power plants and ports to feed the nation's growing demand for energy. The mining company is in preliminary talks to invest in Indonesia and is studying targets in Australia and Mongolia, company president Ling Wen said on Friday. The US$134 billion unsolicited takeover offer for Rio Tinto Group by BHP Billiton Ltd, the world's biggest mining company, may accelerate those plans. "It's very important to use not only organic growth, but also mergers and acquisitions to make our enterprise larger, better and more profitable," Ling said in an interview in Beijing, according to Bloomberg News. "We have huge room to make some acquisitions." China Shenhua would be able to finance takeovers because its parent, state-owned Shenhua Group Corp, owns a 74-percent stake. China Shenhua would be able to free up US$78.5 billion by selling new

Google's high-flying market valuations and "new economics" have occasionally drawn some comparisons with Enron, a company that tried to mix energy markets with the media marketplace. Now the online search giant is following a reverse path, utilizing its strong media marketplace position to move into the energy business, albeit alternatively. Google revealed its latest industry bombshell Tuesday, unveiling plans for Renewable Energy Cheaper than Coal (REC), an initiative to develop means of producing cleaner, renewable energy worldwide, including solar, wind and geothermal power systems. In coming months, Google said it plans to hire engineers and energy experts, and partner with established renewable resource providers like Pasadena-based eSolar and Alamada-based Makani Power for solar and wind projects, respectively.

Google Inc., whose corporate motto is "don't be evil," created a research group to develop cheaper renewable energy sources, focusing on solar, wind, and other alternative forms of power.

Plans for a new generation of nuclear power stations will take a significant step forward today when British Energy names four sites in the south of England as the first it wants to link to the national grid

Oil and gas may be out of bounds, but the government is keen to attract investment in power generation RUSSIA may not seem like the most alluring destination for big Western energy firms at the moment. After all, government inspectors have a nasty habit of harassing big foreign investors, which have found themselves squeezed out of several lucrative projects in the country's oil and gas industry in recent years. Meanwhile, the authorities have methodically built up Gazprom, the state-controlled gas giant, into a national champion. Yet in the field of power generation, European firms are lining up to invest billions. Enel, Italy's former electricity monopoly, has purchased 37% of OGK-5, one of Russia's six wholesale power-generators, for 50 billion rubles ($1.9 billion). Last week it offered to buy the rest, which could cost it a further 98 billion rubles. E.ON, a big German utility, has bought 47% of another wholesaler, OGK-4, and plans to raise its stake to 70%. Fortum, a Finnish utility, owns a quarter of a regional generator, and is planning further investments. In fact, claims Anatoly Chubais, the head of UES, the former parent of all these generation companies, a host of foreign firms, such as Gaz de France and Korea Electric Power Corporation, want to get involved. ...

NEW YORK (MarketWatch) -- Third Wave Acquisition Corp. on Tuesday filed to raise $350 million in a blank check initial public offering. The Greenwich, Conn. company plans to offer 35 million units at $10 each for trade on the American Stock Exchange under the symbol TWV.U. Deutsche Bank Securities is underwriting the deal. Third Wave is led by Barry Sternlicht, the founder, Chairman and CEO of Starwood Capital Group, a private investment firm primarily focused in the real estate, lodging and energy infrastructure sectors. Starwood Capital Group has recently formed Starwood Energy Partners and is a leader in power transmission distribution. Starwood's funds control the nation's largest golf course operators, American Golf and Troon Golf. Sternlicht has pre-existing fiduciary and contractual obligations to Starwood Capital Group, and, pursuant to such obligations, we will not compete for target businesses with Starwood Capital Group or its related investment funds, the company said.

Intel plans to roll out its newest generation of processors today, flexing its manufacturing muscle with a sophisticated new process that...

As California utilities scramble to buy more renewable energy, Pacific Gas and Electric Co. and a Palo Alto startup will announce plans today to build a solar power plant big enough to light more than 132,000 homes. Ausra Inc. will design and build the plant,...

Power plant operator NRG Energy plans to use a new technology to cut more than 1 million tons of carbon dioxide emissions annually from its W.A. Parish power plant near Sugar Land.

GCL-POLY Energy Holdings Ltd, a Chinese power company, may raise HK$1.18 billion (US$152 million) from an initial public offering in Hong Kong, according to a share sale document. The company plans to offer 288 million new shares at HK$3.30 to HK$4.10 apiece, according to the document, distributed to investors on Monday. The sale of a 29.3-percent stake values GCL-Poly Energy at as much as HK$4 billion, or 62.4 times this year's forecast earnings. GCL-Poly is raising capital to fund acquisitions and expand its cogeneration plants, which sell the steam that conventional power generators waste.

With plans to spend billions on new power plants and equipment over the coming years, Puget Energy decided it needed a more stable ...

The telecoms company's plans to develop 250MW of wind farms would be the biggest expansion of renewable energy outside the power generation sector

BT upped the ante in the green-energy stakes yesterday by revealing plans to lead a £250m wind farm project to generate renewable power that will supply a quarter of its energy needs by 2016.

TERNA SA, the Greek construction company controlled by the Gek Group of Cos SA, plans to raise as much as 350 million euros (US$495 million) in a share sale of its energy unit to build more wind parks and hydroelectric plants. "We received the approval from the Athens Stock Exchange and are now waiting for approval from the securities commission in order to proceed with the initial public offering," Chief Executive Officer Georgios Peristeris said in an interview in London. Terna Energy, which focuses on renewable power, has 116 megawatts of generating capacity through its wind farms and is building wind facilities and hydropower plants with a capacity of 76 megawatts, the Athens-based Terna said on August 30. The company is expanding outside Greece in the Balkans and in Asia. While the builder doesn't plan to sell any Terna Energy shares in the IPO, its stake will be diluted by the newly issued stock, Peristeris said. "After the IPO the share of Terna will be slightly below 50 percent," he said. "With the funds the company plans to finance the investment program." Terna Energy intends to have 600 megawatts of renewable capacity by 2012, of which 70 percent will be in Greece and the rest abroad in the Balkans and Asia, especially China, Peristeris said. "We have signed some agreements with Chinese companies to co-invest in renewables," he said. Gek, which owns 54 percent of Terna and has a thermal energy unit, aims to have installed capacity of 1,200 megawatts by 2012, of which about 600 megawatts will be in operation by 2009, said Peristeris, who is also Gek's chairman, Bloomberg News said. Terna expects the IPO to raise at least 250 million euros, Peristeris said.

Norway plans to build the world's first osmotic power plant, a renewable energy source that makes use of the pressure built up between sea water and fresh water, Norwegian energy group Statkraft said Wednesday.