Recently, two big European electricity utilities, GDF Suez and International Power, have signed a memorandum of understanding to establish the largest independent electricity company of the world in terms of generation capacity. The French company GDF Suez will transfer its international assets (GDF Suez Energy International) in Great Britain, Turkey and outside Europe to the British International Power and will own 70% of the new company.
Shareholders of International Power will hold the other 30%. The closing date of the proposed combination remains subject to completion of a consulting process and is conditional upon, among other things, the approval of the shareholders. Completion is expected at the end of 2010 / early 2011. The new company will be named New International Power and will have a generation capacity of 66 GW. New International Power will be listed on the London Stock Exchange.
At the end of 2009 International Power generated revenues of £ 3.9 billion (US$ 6.2 billion) and EBITDA of £ 1.4 billion (US$ 2.2 billion). The company is listed on the London Stock Exchange with a market capitalisation of £ 5.8 billion (US$ 9.2 billion).
As at June 2010, International Power had a total installed capacity of 20.9 GW, spread over 50 power plants across North America, Europe, the Middle East, Australia and Asia. 4,669 MW (22.3%) of this capacity is coal-fired. For an over overview of the coal-fired power plants of International Power please refer to the Business section of this company profile. The controlled capacity of International Power is 4,019 MW.
GDF Suez Energy International is mainly active in North America, Latin America, the Middle East, Asia and Africa. It has over 25,000 employees and its sales revenues for 2008 were € 30.5 billion (US$ 43 billion) . At the end of 2009 GDF Suez Energy International generated sales of US$ 13.3.
GDF Suez Energy International had a total installed capacity of 59 GW of which 8,286 MW is coal-fired including coal used for heat production. The company operates coal-fired power plants in Brazil, the United States and Thailand, among others. For an overview of the coal-fired power plants of GDF Suez Energy International please refer to the Business section of this company profile. All plants are 100% owned.
The newly formed company, New International Power, will have a total capacity of 79.9 GW of which around 12,305 MW will be coal-fired capacity controlled by New International Power. This means that the new company will own 0.7% of the worldwide coal-fired capacity. GDF Suez, the parent company of GDF Suez Energy International, plans to build new power plants in Germany, the Netherlands and Poland.However, because only the international assets of GDF Suez will be transferred to the new merger company, these plans will not affect the capacity of this company.
35.6% Owned by French Government, Remaining owned by public shareholders
Tractebel Engineering is the GDF SUEZ Group's engineering consultancy company for energy and infrastructure. They offer engineering solutions and consultancy services to power, nuclear, gas, industry and infrastructure customers in the public and private markets. Tractebel Engineering is part of GDF SUEZ Energy Services, one of the business lines of GDF SUEZ.
75008 Paris
France
Chairman and Chief Executive Officer of GDF SUEZ
energy plants, dams
energy plants, wind
nuclear industry
oil and gas
