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EDF sells UK Sutton Bridge power station to Macquarie-led group
December 12, 2012 / 2:21 PM / 5 years ago

EDF sells UK Sutton Bridge power station to Macquarie-led group

LONDON, Dec 12 (Reuters) - EDF Energy will sell its 819 megawatt (MW) Sutton Bridge gas power station in England to a group of investors led by Australian bank Macquarie, EDF Energy said on Wednesday.

The divestment of the power station, built in 1999, is one of the commitments made by EDF Energy to the European Commission at the time it bought British Energy in 2008, the statement said.

“EDF Energy confirms that it has reached agreement for the sale of Sutton Bridge Power Station, an 819 MW Combined Cycle Gas Turbine (CCGT) power plant located in South East Lincolnshire, UK, to a Macquarie-led consortium of investors,” the company said in a statement.

EDF Energy is owned by French state-controlled utility EDF, the world’s biggest nuclear power plant operator.

A spokesman said that the acquisition price was confidential.

Macquarie is already an active player in Britain’s wholesale power and gas markets.

Analysts say that natural gas, although currently less profitable for power generation than coal, will be an attractive investment in Britain as the government is keen to reduce power production from coal to meet its emissions reduction targets.

Natural gas emits less carbon emissions, blamed for climate change, than power generated from coal.

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