IPC’s original plan saw it joining forces with selected domestic US power companies in order to enter specific emerging markets for leveraging a position in international power privatisations and buy-outs. Early partnerships with New Century Energies of Colorado and Florida Progress culminated in a Xcel Energy Inc owning 49 per cent of IPC until 2001 when the London team of IPC completed a management buy-out of the Company.
From 2003 IPC adopted an expansionist approach to development and growth through acquisition and began expanding aggressively into new territories. In 2004 IPC spun out and floated Rurelec PLC, the first AIM quoted electricity company which was focused on Latin America. The following year, IPC spun out and floated IPSA Group PLC which was also quoted on London’s AIM Market as well as dual listed in Johannesburg but which concentrated on Southern Africa.
IPC is built around its ability to marry financial and engineering skills to help its clients finance, develop and operate greenfield power projects or to acquire on behalf of clients existing plants in order to upgrade efficiency and improve management.
IPC is entering a new era of expansion of its activities into familiar as well as untapped territories for power generation assets, and renewable energy assets in particular, to be developed by IPC or managed by IPC’s operations and management subsidiary, IPOL, working in partnership with institutional and corporate investors. In this way IPC is branching out as an independent developer and operator of power plants.
IPC is involved solely in power generation and has mostly avoided any investment in power transmission and power distribution. Equally, while acting as a catalyst for the development of fuel sources in its target territories, such as unexploited or stranded reserves of gas which can complement solar, wind or hydro projects, IPC has also actively avoided vertical integration into primary fuel sources, preferring to specialise as a developer and an operator of power plants in emerging markets. As a result, IPC has built up a strong reputation as a reliable partner for power generation projects.