Engie Energy International, formerly International Power, is a multinational

electricity generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its s ...

company headquartered in

Newcastle upon Tyne Newcastle upon Tyne ( RP: , ), or simply Newcastle, is a city and metropolitan borough in Tyne and Wear, England. The city is located on the River Tyne's northern bank and forms the largest part of the Tyneside built-up area. Newcastle is ...

, and a wholly owned subsidiary of the French company

Engie 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. It ...

(formerly GDF Suez). The company was formed as International Power in 2000 by the demerger of

National Power National power is defined as the sum of all resources available to a nation in the pursuit of national objectives. Assessing the national power of political entities was already a matter of relevance during the classical antiquity, the middle ages ...

. It was listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...

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 Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by t ...

of approximately £16.9 billion as of 23 December 2011, making it the 24th-largest company on the London Stock Exchange. In February 2011, GDF Suez acquired a 70% interest in International Power. The purchase of the remaining 30% was announced by GDF Suez in April 2012, and the transaction closed in July 2012. 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

In 2000

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. In August 2010 the company announced a tie-up with

GDF Suez 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. It ...

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. 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. In October 2010 MeyGen, a consortium of

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, Atlantis Resources Corporation and International Power, received an operational lease from the

Crown Estate The Crown Estate is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole, making it "the sovereign's public estate", which is neither government property nor part of the monarch's priv ...

for a 400MW

tidal power Tidal power or tidal energy is harnessed by converting energy from tides into useful forms of power, mainly electricity using various methods. Although not yet widely used, tidal energy has the potential for future electricity generation. Ti ...

project for 25 years in the

Pentland Firth The Pentland Firth ( gd, An Caol Arcach, meaning the Orcadian Strait) is a strait which separates the Orkney Islands from Caithness in the north of Scotland. Despite the name, it is not a firth. Etymology The name is presumed to be a corrup ...

.Major Scottish tidal project unveiled
''New Civil Engineer'', 28 October 2010. Retrieved: 4 November 2010. On 16 April 2012, GDF Suez announced the purchase of the remaining 30% of International Power and the transaction closed in July 2012. International Power has a pipeline of large projects in the

emerging markets An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or wer ...

; namely South America, the Middle East, South-East Asia - representing approximately 13 GW generating capacity and expected to be completed between 2014 and 2017. The purchase of IP will boost GDF Suez' presence in the growing energy demand regions.

Operations

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

References

External links

* {{Authority control British subsidiaries of foreign companies Electric power companies of England Companies based in Newcastle upon Tyne Energy companies established in 2000 Non-renewable resource companies established in 2000 2000 establishments in England