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 electric utility, utilities in the electric power industry, it is the stage prior to its Electricity delivery, delivery (Electric power transm ...

company headquartered in

Newcastle upon Tyne Newcastle upon Tyne, or simply Newcastle ( , Received Pronunciation, RP: ), is a City status in the United Kingdom, cathedral city and metropolitan borough in Tyne and Wear, England. It is England's northernmost metropolitan borough, located o ...

, and a wholly owned subsidiary of the French company

Engie Engie SA (stylised in all caps as ENGIE) is a French multinational electric utility company, headquartered in La Défense, Courbevoie. Its activities cover electricity generation and distribution, natural gas, nuclear power, renewable energy ...

(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 The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

from 2000 to 2 July 2012, and was a constituent of the

FTSE 100 Index The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chips listed on ...

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 ...

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 (stylised in all caps as ENGIE) is a French multinational electric utility company, headquartered in La Défense, Courbevoie. Its activities cover electricity generation and distribution, natural gas, nuclear power, renewable energy ...

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 bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

, Atlantis Resources Corporation and International Power, received an operational lease from the Crown Estate 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. T ...

project for 25 years in the

Pentland Firth The Pentland Firth (, 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 corruption of the Old Nors ...

.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 we ...

; 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