UPDATE 1-Hyundai Heavy shares up after GE Kuwait deal

(Recasts, adds Hyundai shares)

SEOUL Aug 27 (Reuters) - Shares in Hyundai Heavy Industries (009540.KS) rose on Thursday after the South Korean company said it had partnered with U.S. General Electric (GE.N), which was picked to build a $2.65 billion power plant in Kuwait.

Kuwait's Ministry of Electricity and Water and the central tenders committee have chosen GE to build the Subbiya power plant, a ministry spokesman said on Wednesday. [ID:nLQ71267]

Hyundai Heavy said it had formed a consortium with GE to bid for the project. But a spokesman said the company had yet to receive any notification on result and declined to detail its stake in the consortium.

Shares in Hyundai Heavy, the world's biggest shipbuilder which is growing in the electronic equipment and energy businesses, rose 2.78 percent by 0227 GMT, against the wider Seoul market's .KS11 0.49 percent loss.

GE beat other bidders in the Kuwait plant deal, including Germany's Siemens (SIEGn.DE), Japan's Mitsui & Co (8031.T) and Marubeni Corporation (8002.T), Spain's Iberdrola Ingenieria Y Construccion (IBE.MC), and Canada's SNC-Lavalin Limited (SNC.TO). (Reporting by Rhee So-eui, editing by Jonathan Thatcher)