International Power generates electricity from a range of technologies and
fuel types and currently has operations in 20 countries.
international assets – effectively a reverse takeover of International Power
by GDF Suez – which would be a win-win for both groups in our view. The plan is for GDF Suez to own 70 per cent of the new company, with the
remainder listed in London. IPR’s chief executive, Philip Cox, will be CEO,
so offering some continuity of management.
International Power has a generating capacity of 21GW and GDF Suez
International one of 20GW. New projects will result in a further 7.7GW by
2013, adding almost £900million a year to profits, according to management.
The combined entity will have a stronger foothold in the UK, North America
and the Middle East than its separate units do currently. An additional benefit is that the majority of the output will be sold via