International Power sells equity interest in CCGT plant

Electricity generator International Power has agreed the sale of its 33.3 per cent equity interest in the 420MW T-Power CCGT power plant in Belgium for €48m (£42m) to Itochu, a Japanese conglomerate.

Under this agreement, International Power’s role in the associated Operations and Maintenance Agreement will also be transferred to a subsidiary of Itochu and Itochu will assume International Power’s share of debt in the project.