Projects

Summary

Between 2001 and 2005 IPC focused on creating portfolios of power plants in quoted regional power companies which have been spun off from IPC.

These are Rurelec PLC ("Rurelec") and IPSA Group PLC ("IPSA"). IPC's parent company, Sterling Trust, currently directly owns 29.57% of IPSA and 50.01% of Rurelec. Rurelec is an AIM listed company which as at 30 April, 2010 controlled 585 MW of installed capacity in Bolivia and Argentina and had a further 96 MW under construction.

IPSA is an AIM listed company with a secondary listing at the AltX market of the Johannesburg Stock Exchange which controls 18 MW of installed capacity and has a further 1,000 MW under development in South Africa.

IPC itself is currently going through a new period of expansion with projects in Ras al Khaimah in the UAE, United Kingdom, Russia, Indonesia and Tanzania.

In Russia IPC is aiming to install new Rolls Royce Trent gas turbines (58 MW each) in areas constrained for capacity. The Company will maintain full control over individual power projects which will be contracted in advance and with ownership transferred to Russian partners as soon as they are commissioned.