ENGINEERINGNET.EU -- The French GDF Suez and International Power (70% owned by GDF Suez) announce the sale of its 40% stake in the Bahrain HPC plant to a Malaysian group Malakoff for €87.6 million euros.
Following this sale, International Power will continue to own 30% of the HPC plant, that has a capacity of 929MW and 90 MIGD of water desalination.
"This transaction is in line with International Power’s agreement to sell down part of its interest in the Bahraini power market to comply with regulatory requirements following the combination with GDF SUEZ Energy International in February 2011", state both companies in a press release.
BACKGROUND
In 2006, HPC was sold by the Government of Bahrain, via a public tender, to a consortium of International Power (40%), GDF SUEZ Energy International (30%) and Sumitomo Corporation (30%).
