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2011-12-26 - 08:14:00 - DJ Vattenfall To Team Up To Bid For French Hydropower - Report

DJ Vattenfall To Team Up To Bid For French Hydropower - Report

PARIS (Dow Jones)--Swedish state-owned utility Vattenfall Group plans to team up with steel maker ArcelorMittal (MT), state-owned railway operator SNCF and chemical company Rhodia, a unit of Solvay (SOLB.BT), to bid for France's hydropower plants due to be auctioned in the coming months, the newspaper Les Echos reported citing unidentified sources from SNCF's labor union.

The French government is due to auction the rights to operate hydropower plants and dams in the country that are currently operated either by state-controlled utility Electricite de France SA (EDF.FR) or French power company GDF Suez (GSZ.FR).

Vattenfall has already said it planned to bid for the plants and is now seeking partners among France's largest electricity consumers, the newspaper said.

Newspaper Web site:

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740;

(END) Dow Jones Newswires

December 26, 2011 03:14 ET (08:14 GMT)

Copyright (c) 2011 Dow Jones & Company, Inc.

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