International Power plc is a United Kingdom-based public limited company. The principal activity of the Company is to act as the holding company for a group of companies and a number of associated companies and joint ventures (the Group). The principal activities of the Group are the generation and sale of electricity. International Power's primary business is the generation of electricity. It has interests in 28,800 megawatt (gross) of power generating capacity in 18 countries. The Company's business is focused in five core regions: North America, Europe, Middle East, Australia and Asia. On January 22, 2006, along with its partners Suez Energy International of France and Sumitomo Corporation of Japan, International Power signed an agreement to acquire the Hidd independent power and water project in Bahrain, 40%-owned by the Company, 30% by Suez Energy International and 30% by Sumitomo Corporation. On January 26, 2005, the Company completed the purchase of an additional 5% in Turbogas-Produtora Energetica S.A, a 990 megawatt combined cycle gas turbine (CCGT) power station in Portugal, from Koch Transporttechnik. On July 28, 2005, International Power completed the acquisition of Saltend Cogeneration Company Limited. In July 2005, Saltend power plant became the latest addition to International Power's United Kingdom portfolio, when it was acquired in a 70:30 partnership with Mitsui & Co., Ltd of Japan. Saltend is a 1,200-megawatt CCGT cogeneration plant located near Hull, England. The plant primarily sells its output in the England and Wales power market, and supplies approximately 7% of its power and steam output to the adjacent BP Chemicals site. Midlothian, the 1,650 megawatt CCGT power station in Texas, is owned 100% by International Power and delivers its energy into the Texas ERCOT market (Electricity Reliability Council of Texas). Midlothian is among the gas-fired plants in the Electric Reliability Council Of Texas, Inc. market, which has total capacity of 78,900 megawatt, including coal/lignite, nuclear, wind, hydro and gas fired plants. During the year ended December 31, 2005, the plant operated with a capacity factor of 55%. The Company's wholly owned subsidiaries include Canunda Power Pty Limited, Synergen Power Pty Limited, Deeside Power Development Company Limited, Pelican Point Power Limited, Rugeley Power Limited, IPR Insurance Company Limited, International Power (Jersey) Limited, Thai National Power Company Limited, ANP Bellingham Energy Company, LLC, ANP Blackstone Energy Company, LLC, ANP Funding I, LLC, Hays Energy Limited Partnership, Midlothian Energy Limited Partnership and Milford Power Limited Partnership.

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