Recently filed results show that the consulting arm of the state-owned electricity generator received dividends of 10m from its subsidiary ESBI Engineering, 7.5m from ESBI Engineering Overseas, 964,000 from ESBI Georgia and 421,000 from ESBI Consultants.

The company had a total of 76m invested in subsidiaries and joint ventures at the end of 200 5. Among the high-profile deals the company announced during 2006 is a joint venture with Scottish and Southern Energy to develop a major new 850MW gas-fired power station at Marchwood, in Southampton, at a cost of £400m. The project is expected to begin construction next year and be operational by 2009.

ESBI is understood to be finalising a deal with 12 lenders to provide between 500m and 600m in financing for the power plant. ESBI initiated negotiations with banks in September and hopes to complete the process by the end of the year.

ESBI previously obtained financing of almost 700m to construct an 800MW power plant in Bilbao, Spain, which opened last year. Its construction was opposed by Leftist groups and Greenpeace.

ESBI considered the risk from ETA terrorist activity low when it established the plant.

Last year, it was the target of four small explosions caused by devices believed to have been planted by ETA activists.