Engie Energy International

Last updated
Engie Energy International
Type Subsidiary
(Private limited company)
Industry Electricity
Founded2000 (2000)
Headquarters,
England, United Kingdom
Key people
Dirk Beeuwsaert (Chairman)
Philip Cox (CEO)
Products Electrical power
Revenue 16.167 billion (2011) [1]
€2.805 billion (2011) [1]
€1.797 billion (2011) [1]
Parent Engie
Website Official website

Engie Energy International, formerly International Power, is a multinational electricity generation company headquartered in Newcastle upon Tyne, and a wholly owned subsidiary of the French company Engie (formerly GDF Suez).

Contents

The company was formed as International Power in 2000 by the demerger of National Power. It was listed on the London Stock Exchange from 2000 to 2 July 2012, and was a constituent of the FTSE 100 Index for most of that period. It had a market capitalisation of approximately £16.9 billion as of 23 December 2011, making it the 24th-largest company on the London Stock Exchange. [2]

In February 2011, GDF Suez acquired a 70% interest in International Power. [3] [4] The purchase of the remaining 30% was announced by GDF Suez in April 2012, and the transaction closed in July 2012. [5] Following the acquisition, the company was renamed GDF Suez Energy International. In 2015, GDF Suez rebranded as Engie, and its subsidiary renamed itself in accordance.

History

Logo as International Power International Power.png
Logo as International Power

In 2000 National Power demerged its UK businesses as Innogy plc with the remainder of the business being renamed International Power. The Company was first listed on the London Stock Exchange on 2 October 2000. [6]

In August 2010 the company announced a tie-up with GDF Suez via a reverse takeover whereby GDF Suez transferred its Energy International Business Areas (outside Europe) and certain assets in the UK and Turkey to International Power in exchange for 70% of the stock of the combined entity. [3] [4] [7] The remaining 30% remained in the ownership of the existing International Power shareholders. The combination was completed on 3 February 2011 following approval by shareholders. [8]

In October 2010 MeyGen, a consortium of Morgan Stanley, Atlantis Resources Corporation and International Power, received an operational lease from the Crown Estate for a 400MW tidal power project for 25 years in the Pentland Firth. [9]

On 16 April 2012, GDF Suez announced the purchase of the remaining 30% of International Power and the transaction closed in July 2012. [5]

International Power has a pipeline of large projects in the emerging markets; namely South America, the Middle East, South-East Asia - representing approximately 13 GW generating capacity and expected to be completed between 2014 and 2017. [10] The purchase of IP will boost GDF Suez' presence in the growing energy demand regions. [5]

Operations

The company has more than 66 GW of power generation (gross) in operation and 22GW gross capacity under construction. [11] It has five business regions, and operates in 27 countries. [12]

Related Research Articles

FTSE 100 Index Share index of the London Stock Exchange

The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.

Baltimore Technologies was a leading Irish internet security firm, with its headquarters in Dublin, Ireland. It was listed on the London Stock Exchange and was briefly part of the FTSE 100 Index during 2000. Fran Rooney was the CEO for a period in the 1990s.

Suez S.A. was a leading French multinational corporation headquartered in the 8th arrondissement of Paris, with operations primarily in water, electricity and natural gas supply, and waste management. Suez was the result of a 1997 merger between the Compagnie de Suez and Lyonnaise des Eaux, a leading French water company. In the early 2000s Suez also owned some media and telecommunications assets, but has since divested these. According to the Masons Water Yearbook 2004/5, Suez served 117.4 million people around the world. The company conducted a merger of equals with fellow utility company Gaz de France on 22 July 2008 to form GDF Suez. The water and waste assets of Suez were spun off into a separate publicly traded company, Suez Environnement.

E.ON Holding company

E.ON SE is a European electric utility company based in Essen, Germany. It runs one of the world's largest investor-owned electric utility service providers. The name comes from the Latin word aeon, from the Greek aion which means age. The company is a component of the Euro Stoxx 50 stock market index, DAX stock index and a member of the Dow Jones Global Titans 50 index.

Gérard Mestrallet French businessman

Gérard Mestrallet is a French manager who served as chairman of the board of directors of Engie and as CEO from 2008 to 2016. He is also the chairman of Suez.

National Power

National Power was formerly an energy company based in the United Kingdom.

Gaz de France Defunct French natural gas and nuclear power company

Gaz de France (GDF) was a French company which produced, transported and sold natural gas around the world, especially in France, its main market. The company was also particularly active in Belgium, the United Kingdom, Germany, and other European countries. Through its part-owned Belgian subsidiary SPE it was also involved in nuclear power generation. The company conducted a merger of equals with fellow utility company Suez on 22 July 2008 to form GDF Suez. Its head office was located in the 17th arrondissement of Paris.

Electrabel

Electrabel SA is a Belgian energy corporation. It is a subsidiary of French multinational utility company Engie S.A..

Eastern Electricity

Eastern Electricity plc was an electricity supply and distribution utility serving eastern England, including East Anglia and part of Greater London. It was renamed Eastern Group under which name it was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index until it was acquired by Hanson plc in 1995, before being purchased by Texas Utilities in 1998.

Nord Stream AG Operators of the Nord Stream 1 pipeline

Nord Stream AG is a consortium for construction and operation of the Nord Stream submarine pipeline between Vyborg in Russia and Greifswald in Germany. The consortium was incorporated in Zug, Switzerland, on 30 November 2005. The original name of company was the North European Gas Pipeline Company. The company was renamed to Nord Stream AG on 4 October 2006.

SSE plc British energy company

SSE plc is a multinational energy company headquartered in Perth, Scotland. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. SSE operates in the United Kingdom and Ireland.

Engie French multinational utility company

Engie SA is a French multinational utility company, headquartered in La Défense, Courbevoie, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum.

Suez (company, 2015) French water treatment & waste management company

Suez SA is a French-based utility company which operates largely in the water and waste management sectors. Suez is the largest private water provider worldwide, by number of people served. The company has its head office in La Défense, Paris. In 2015, all the group's brands became Suez.

EnServe

EnServe Group Limited is a support services company headquartered in Macclesfield, United Kingdom which provides infrastructure services to the utility sector. Formerly listed on the London Stock Exchange and a constituent of the FTSE 250 Index, it was wholly owned by the private equity company Cinven between 2010 and 2016, when it was bought by Rubicon.

Tractebel is an international company, of Belgian origin, which provides consultancy and engineering services in energy, water, nuclear and infrastructure for the ENGIE group as well as for national and international institutions and customers in the public and private markets. With a presence in Europe, Africa, Asia, Latin America and the Middle East, thefirm expects a turnover of € 581 million in 2020.

Simply Energy

Simply Energy is an Australian energy retailer, providing electricity and gas to more than 700,000 accounts across Victoria, South Australia, New South Wales, Queensland and Western Australia, with sales totalling 12% of the Australian market. It is the Australian retail arm of ENGIE, which fully owns Simply Energy.

NuGeneration (NuGen) was a company that planned to build a new nuclear power station nearby the Sellafield nuclear site in the United Kingdom. The proposed site was called Moorside, and is to the north and west of Sellafield. On 8 November 2018, Toshiba announced their withdrawal from the project and intent to liquidate NuGen.

Jean-Michel Carboni

Jean-Michel Carboni is a French Chief Executive Officer, senior official and senior executive in the energy sector, for EDF-GDF, Gaz de France and Engie groups. Member of the management committee he is Deputy CEO of Engie in 2013.

Isabelle Kocher French businesswoman (born 1966)

Isabelle Kocher is a French businesswoman. She was the chief executive officer of Engie until February 24 2020.

Altergaz was the first French independent natural gas company in France, based in Paris and founded by Taoufik Tahar, Robert Delbos and Jean-Paul George in 2003. In 2012, Eni, the Italian Oil & Gas multinational acquired Altergaz.

References

  1. 1 2 3 "Preliminary Results 2011" (PDF). Archived from the original (PDF) on 2012-06-06. Retrieved 2012-03-25.
  2. "FTSE All-Share Index Ranking". stockchallenge.co.uk. Retrieved 26 December 2011.
  3. 1 2 "GDF takes control of International Power to form energy giant". Reuters . 10 August 2010. Retrieved 2012-06-06.
  4. 1 2 "GDF Suez Is Stepping On The Gas In Fast Growing Markets" . Retrieved 2012-06-06.
  5. 1 2 3 "GDF Suez to Buy Remaining Stake in British Utility for $10 Billion" . Retrieved 2012-06-06.
  6. National Power sweeps Board for demerger The Independent, 10 February 2000
  7. Lundgren, Kari (10 August 2010). "GDF Buys International Power, Pays Special Dividend". Bloomberg . Retrieved 10 August 2010.
  8. International Power sweetens GDF Suez merger with £1.4bn cash for investors The Telegraph, 10 August 2010
  9. Major Scottish tidal project unveiled New Civil Engineer, 28 October 2010. Retrieved: 4 November 2010.
  10. Presentation - GDF SUEZ / IPR: Capturing full potential of growing Energy markets pg 12
  11. "International Power and GDF Suez agree tie-up". BBC News. 10 August 2010.
  12. "Our history". GDF Suez UK & Turkey. Retrieved 23 August 2015.