International Power eyes India and Africa

International Power is considering an expansion into India, South Africa and Morocco, CEO Phil Cox has told the Wall Street Journal.

The London-based firm is currently in the early stages of a strategic review of the Indian market, he said.

“We do look and challenge ourselves on the markets we’re not in,” he said. “India I would pull out as being the really big scale that it is on the list.”

Emerging markets provide most of the London-based firm’s operating income. International Power is currently building 6.6 GW in new power plants, mainly in developing nations. The firm may also acquire assets through acquisitions, said Cox.

International Power is actively reviewing specific assets in Vietnam and Morocco, as well as South Africa, where it’s considering peaking plant and wind projects, he told the newspaper. The three countries “make sense,” because power demand is growing, their governments are supportive and long-term off- take contracts are available, he said.

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