Centrica to sell two gas power plants for £318m

Centrica is to sell two operational combined cycle gas turbine (CCGT) power stations for £318 million. It is part of its strategy to invest more in the growing home services […]

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By Priyanka Shrestha

Centrica is to sell two operational combined cycle gas turbine (CCGT) power stations for £318 million.

It is part of its strategy to invest more in the growing home services market and flexible generation.

The Langage and South Humber Bank CCGT plants, which have a combined capacity of 2.3GW, are being sold to EP UK Investments (EPUK).

Its parent company EPH is Europe’s seventh largest power generator and owns the Eggborough and Lynemouth power stations in the UK.

Centrica stated: “The transaction is consistent with Centrica’s strategy to shift investment towards its customer facing businesses and seek opportunities in flexible peaking units, energy storage and distributed generation whilst reducing focus on large scale central power generation.”

The transaction is subject to EU merger clearance and is expected to be completed during the second half of 2017.

The news follows the energy giant’s announcement to permanently close the Rough gas storage facility.