International Power has held discussions with a Russian state-owned power group over its possible entry in to the country’s energy market, it emerged yesterday.
The FTSE 100 power plant owner, formerly known as National Power, admitted that it had talked to United Energy Systems during recent visits by UES executives to the UK.
Philip Cox, chief executive of International Power, said that talks over the group’s entry to the Russian market had been preliminary, adding that it was natural to talk to UES given its strong position in the Russian market.
“We have been to Russia. We are viewing potential opportunities but very much on the learning curve,” he said.
Mr Cox added that the company needed to understand the commercial and privatisation processes before