Deals Done

Globally, 2010 was an active year for renewable energy mergers and acquisitions with a total of 446 deals completed in the period, representing an increase of over 70 percent on the 260 deals closed in 2009, says a survey from KPMG that highlights the hot spots and drivers of deal activity around the globe.

Reuters is reporting that ABB and Schneider Electric are among the six global and local buyers who had made it to the second round of bidding for Beijing Leader & Harvest Technologies, a manufacturer of energy-saving equipment.

European wind turbine manufacturer Nordex has bolstered its entry into the Chinese markets with a new order from Ningxia Electric Power.

As widely speculated, Toshiba Corporation has agreed to acquire Switzerland's Landis+Gyr AG, a leader in energy management solutions for utilities. The 186.3 billion yen (USD2.3 billion) acquisition will substantially enhance the scope of Toshiba's Smart Community Division and help it become a global player in the smart grid sector.

The Indian units of turbine manufacturer Gamesa and wind plant operator Caparo Energy are set to embark on a joint venture, according to reports.

As shareholders took in the grim news that Danish wind turbine maker, Vestas, had made a loss in the first quarter of 2011, despite boosting revenue by 25 percent over 2010, it announced two large contracts in China. The management said the market would prove choppy from quarter to quarter but that overall order books looked healthy.

Hong Kong's Cheung Kong Infrastructure Holdings Limited (CKI) and Power Assets Holdings Limited (Power Assets) have signed agreements to jointly acquire the Meridian Co-generation Plant in Saskatchewan, Canada from Husky Energy and TransAlta Co-generation.