Centrica has agreed to promote its 382 MW King’s Lynn mixed cycle gasoline turbine (CCGT) energy station to RWE Generation for £105 million, based mostly on a valuation date of 31 December 2019. The transaction is predicted to finish within the first quarter of 2020.
The transaction varieties a part of the non-core asset disposal programme introduced in February this 12 months. It can also be in step with Centrica’s technique to reposition in the direction of the client, and as a part of this from central to distributed era, as the corporate focuses on changing into a number one worldwide Energy Services and Solutions supplier.
The new King’s Lynn CCGT was commissioned on 18 November 2019 following a serious replant by Siemens, together with the set up of a brand new gasoline turbine. The energy station is designed for max effectivity and adaptability, supporting the transition to a low carbon power system which is more and more reliant on intermittent renewables.
The energy station has a 15-year Capacity Market settlement which begins in October 2020 and is able to producing sufficient energy to satisfy the wants of 400,000 households, nearly all of the houses in Norfolk.
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