Building for the future
It is often said that only the strong survive in times of crisis, and nowhere has that been more aptly illustrated than by the boom and bust market of DubaiÔÇÖs construction industry. Andrew Pelis talks to one company that is weathering the storm better than most.

Chinese firm A-Power Energy Generation Systems has announced it is to build a $1.5 billion wind farm project in west Texas, in partnership with US companies. The wind farm, which will be one of the largest wind development projects in the country, will have a capacity of 600 megawattsÔÇöenough to supply electricity to 180,000 Texan homes. Production is expected to commence from 2011. The project is to be majority-funded by Chinese banks, the company said, but will also rely on a US stimulus grant worth up to $450 million.

Italian oil giant Eni and Angola's Sonangol have announced an ÔÇ£importantÔÇØ offshore oil discovery off the coast of Angola.

ConocoPhillips, the third largest energy company in the US, has announced it is to sell up to $10 billion worth of assets. Under the two-year program, the Houston-based company is considering selling the bottom-performing 10 percent of its producing assets in North America, as well as a selection of its natural gas properties in the North Sea. The company is also considering selling pipelines and terminals in the US in addition to its nine percent interest in Syncrude, a joint venture to develop oil sands in Canada. The company has confirmed it has no intention of sellin

The UK government has announced the £70 million sale of land near the Sellafield nuclear complex to a European consortium.

Canadian oil and gas firm Petrobank will begin testing new oil extraction technology at an oil well in Saskatchewan that could position the region as a major force in North American energy production. The toe-to-heel air injection, or THAI, technology is to be trialed on a $12 million, two-well site near Kerrobert. The method allows for greater oil recovery rates and leaves a smaller environmental footprint than other conventional methods. THAI uses underground combustion to heat the bitumen or oil.

UK energy group Centrica, the parent company of British Gas, has announced it has received investment approval for the construction of a wind farm project off the coast of Lincolnshire.

Chinese state-owned China Investment Corporation (CIC) has announced that it will invest $500 million in the Canadian company SouthGobi Energy Resources, a unit of Vancouver-based Ivanhoe Mines.  The money will be used to accelerate the development of SouthGobiÔÇÖs Mongolian coal assets. The company's main project is currently the Ovoot Tolgoi coal mine in South Gobi region of Mongolia, approximately 40 kilometres north of the Mongolia-China border.