Andritz VA TECH HYDRO has been selected by privately-owned First Gen Hydro Power Corporation, Philippines to refurbish and upgrade the Pantabangan hydroelectric power plant, Luzon. The contract volume amounts to approximately 30 MEUR. Pantabangan was the first power facility of National Power Corporation (Napcor) to have been privatized.
Andritz and GE Energy have successfully closed the transactions announced in May and June 2008, pursuant to which Andritz has acquired certain assets of GE Energy’s Hydro business as well GE Energy’s majority interest in GE Hydro Inepar do Brasil S.A., to be renamed Andritz Hydro Inepar do Brasil S.A.
International technology group Andritz and GE Energy (GE) have signed an agreement for the purchase by Andritz of GE’s majority interest in the GEHI (General Electric Hydro Inepar) joint venture. The other principal shareholder in GEHI, which was founded in 1997, is Brazilian conglomerate Inepar S.A. Group. Financial terms were not disclosed.
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