Press Releases
31/08/2007
International Power completes acquisition of 648 MW Trinergy Wind Portfolio located in Italy and Germany
(London – 31 August) Further to our announcement on 6 August 2007, International Power has successfully completed the acquisition of the 648 MW Trinergy Wind Portfolio which comprises 581 MW in operation and 67 MW currently under construction. Trinergy was acquired from private investors connected with the Matrix Group and CJS Capital Partners Limited for an enterprise value of €1,839 million (£1,251 million). The acquisition is expected to be earnings accretive and cash flow positive from the first full year of International Power ownership.
The cash consideration of €868 million (£590 million) has been funded by non recourse acquisition debt of €300 million (£204 million) and current liquid resources of €568 million (£386 million) from International Power.
The portfolio has assets located in Italy (495 MW in operation and 67 MW under construction) and Germany (86 MW in operation) and will be integrated into the Company under the new name Maestrale. Following this transaction, International Power will have 1,053 MW of operational wind power and a further 99 MW under construction.
Notes to editors
An exchange rate of £1:€1.47 has been applied in this announcement.
To view related announcements please visit: www.ipplc.com/ipr/news/press/pr2007/
For further information please contact:
Investor/ Media Contact:
Beth Akers
+44 (0)20 7320 8622
About International Power
International Power plc is a leading independent electricity generating company with 30,779 MW gross (18,907 MW net) in operation and 224 MW gross (149 MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, the Czech Republic, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com
