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People moves this month
01 June 2007HSBC has appointed SIMON MARTIN as its head of group sustainability and corporate responsibility, a new role with overall responsibility for the bank's environmental management, sustainability, and corporate responsibility and philanthropy. Martin was previously HSBC's country head for Argentina.
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Suzlon seals €1.34bn deal for Repower
01 June 2007Indian wind company Suzlon has won the takeover battle for Repower, a German wind turbine manufacturer, after rival bidder Areva failed to match its €150 ($202) a share offer (see Environmental Finance, May 2007, page 6). Suzlon's winning deal values Repower at around €1.34 billion and gives Suzlon access to European wind markets.
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Mitsui buys US weather dealer
01 June 2007Mitsui Sumitomo Insurance (MSI) has bought the assets of US weather derivatives dealer GuaranteedWeather for an undisclosed sum. MSI, which has been a long-term partner of GuaranteedWeather, bought the business from Ramsey Quantitative Systems, a Louisville, Kentucky-based hedge fund.
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Drought threatens credit quality of Australian power sector – S&P
01 June 2007The extreme drought affecting much of Australia could have a negative impact on the credit quality of the country's electricity generators and retailers, according to ratings agency Standard & Poor's.
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Climate charity launches for-profit fund
01 June 2007Global Cool, a celebrity-backed effort to combat climate change, has launched a $60 million–100 million fund-raising to expand its activities in the entertainment industry – through which it hopes to raise $1 billion to fight climate change.
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Triodos to raise €45m
01 June 2007Dutch ethical bank Triodos is aiming to raise €30 million–45 million in a depositary receipt issue, aimed at both institutional investors and individuals.
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Camco acquires emissions software co
01 June 2007Camco International has acquired UK energy service company Bradshaw Consulting, in a cash and shares deal worth £1 million.
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Veolia buys German waste firm
01 June 2007Veolia Environnement is to acquire the second biggest waste management company in Germany for €1.45 billion ($1.95 billion). The French environmental services company has signed an agreement to buy Sulo from private equity firms Blackstone Group and Ajax Partners.
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SO2 auction sends 'bearish' signal
01 May 2007This year's annual US auction of sulphur dioxide (SO2) emission allowances, organised by the Environmental Protection Agency (EPA) on 26 March, did little to interrupt the steady decline in the spot market price.
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Duke loses New Source emissions case
01 May 2007The US Supreme Court has ruled against Duke Energy, the country's third largest power company, in a long-running dispute over emissions from the company's older generating plants. However, while it has been hailed by environmental groups, the ruling may not have much impact on industry, lawyers and analysts say.