News

Meralco customers will enjoy another reduction in their power bills following a drop in the generation charge this month.

Japanese electricity demand in June was down 7.9 percent on last year to 64.4 billion kWh. This was measured in terms of the total electricity sales of the 10 power companies in Japan.

ABB declared that it will continue to honor its commitment against desertification despite the challenges posed by the economic crisis.

Unaudited profit after tax for the first half of 2009 attributable to shareholders of CKI amounted to HK$3,885 million. The figure is a 67 percent improvement over the corresponding period in 2008.

The realisation of renewable energy in Hong Kong progressed after the EIA's approval of CLP and Wind Prospect's proposed offshore wind farm project. It signifies that building a commercial scale offshore wind farm of up to 200MW in the south-eastern waters of Hong Kong is environmentally acceptable.

AREVA and Astonfield have agreed to form a strategic partnership to develop biomass power plants across India. It is projected to produce a total output of 100 MW at an estimated investment of around US$142.5 million.

Powergrid reached a deal with NTPC Ltd to undertake the US$9.8 million turnkey execution of D/C Transmission line from Dadri to Loni.

CEM's Tariff A, covering consumers from residential and small and medium enterprises, remain unchanged at US$.0288 per kWh.

The Tata Power Company Limited, India's largest integrated private power company, has priced an equity offering in the form of Global Depository Receipts for a gross amount of $335 million to fund capital expenditures of existing and future projects. Each GDR will represent 1 equity share, of a nominal value Rs.10 per equity share of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at $22.577 as per relevant pricing guidelines for GDRs. The issue was priced on 21 July 2009 and listing is expected to take place on or about 27 July 2009.

China WindPower raises US$74.7 million through share placement at the placing price of US$.1097 per share for 700 million shares.

Meralco is further educating its customers on efficient and responsible electricity usage with the introduction of energy efficiency corner kiosks.

China WindPower has agreed with Baicheng group for the exclusive right to develop 1500MW wind power resources. The Baicheng wind power exploitation leading group is authorised by municipal government to manage the wind resource exploitation and the local wind power industry development.

The electricity tariff for Singapore households for the second quarter increased from US$.0087 cents per kWh to US$.1338 per kWh.

China Energy Recovery won a contract to design and manufacture a waste heat recovery system for the Wuxi Zhenyu Chemical. The 300,000 ton annual capacity sulfuric acid plant is a joint venture between Marubeni, a Japanese Fortune Global 500 company, and Wuxi Sulfuric Acid, a leading sulfuric acid producer in Jiangsu Province. The contract value amounts to RMB4.98 million or approximately US$0.73 million.

All low voltage distribution boxes damaged by water immersion during typhoon Hagupit that hit Macao last year have been repaired and replaced by CEM.

KEPCO is putting the blame on the Korean government for its operating loss of US$2.75 billion and current net loss of US$2.215 billion. The deficit is the first for the company in its history.