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.
(Source: Centrica)

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