TotalEnergies Buys Gas-Fired Power Plant in U.K. for $574.6 Million
By David Sachs
TotalEnergies will buy a U.K. gas-fired power plant in a deal with EIG Global Energy Partners valued at 450 million pounds ($574.6 million), including debt.
The French energy firm said Wednesday that the transaction includes buying all shares of West Burton Energy, which operates the West Burton B gas-fired plant in Nottinghamshire, England. TotalEnergies plans to divest 50% of the new assets, because the acquisition puts its gas-based power generation capacity well over its needs, it said.
The plant has three combined-cycle gas turbines with a total output of 1.3 gigawatts, TotalEnergies said. It supplies about 1.8 million homes, the company said, and has a 49 megawatt battery storage system.
The transaction is subject to authorization from regulators.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 05, 2024 07:51 ET (11:51 GMT)
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