UNITED KINGDOM: International Power In With The Wind

Published: August 10, 2007, 2:43 pm

Tags: energy market, levanto, scottish power, european union, spain, russia, global warming, international power, trinergy, gas supply, european commission, germany, iberdrola

British energy supplier International Power has taken a leap into the wind power super league a sector that has thrived in Europe, thanks to concerns about global warming, the supply of oil, and the continent's increasing dependence on Russia for its gas supplies.International Power agreed to buy Trinergy, which has wind farm projects in Italy and Germany for 868 million euros ($1.2 billion) over the weekend, making it one of the world's largest producers of wind energy. The news was welcomed by the markets, on an otherwise gloomy day. Its shares topped the gainers in early afternoon trading in London, rising 14.50 pence (30 cents), or 3.4%, to 4.41 ($8.96).Trinergy is being acquired from private investors linked to the Matrix Group and CJS Capital Partners, and is being funded through the acquisition of 202 million ($410.2 million) in debt, and the company's own liquid resources.The market thumbs up reflects confidence in International Power's decision to firm up its

[ Full article ]

Blog link

Comments