Roundup: Bolivia claim, Guatemala geothermal, Wärtsilä sales

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Thursday, October 23, 2014

Bolivia will compensate Spain's Red Eléctrica (REE) with US$65.3mn of the US$200mn the group sought for the nationalization of transmission company TDE in 2012.

Payment will be US$36mn after deducting obligations to state power company Ende and taxes, Bolivia's state news agency ABI quoted the nation's attorney general Héctor Arce as saying.

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A decree was issued authorizing the hydrocarbons and energy ministry to sign a conflict resolution agreement with REE, which in a statement said it will release details when the deal is finalized. Arce said the agreement will be signed in coming days.

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US Geothermal reported it signed the final land lease for Guatemala project El Ceibillo.

"Drilling of [well] EC-2 is expected to begin as soon as the approval to extend the development schedule contained in the concession agreement has been obtained from the Guatemalan ministry of energy. We are optimistic that we will receive approval of our application shortly," the company said in a statement.

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Wärtsilä's January-September net sales in the Americas hit 537mn euros (US$680mn) compared to 744mn euros in the year ago period, according to the company's latest earnings report. Company-wide net sales totaled 3.230bn euros.

The group's power plant order intake from the region rose to 539MW from 324MW, according to a presentation. Company-wide plant order intake reached 1,716MW.