23rd Dec 2019 10:01
(Alliance News) - FTSE 100-listed Centrica PLC on Monday said it has agreed to sell its 382 megawatts King's Lynn combined cycle gas turbine power station to RWE Generation SE for GBP105 million.
The British Gas parent company said the transaction - which forms part of the non-core asset disposal programme - is expected to complete in the first quarter of 2020. It is also consistent with Centrica's strategy to reposition towards the customer, it said.
The new King's Lynn combined cycle gas turbine was commissioned on November 18 following a major upgrade by Munich-based Siemens AG, including the installation of a new gas turbine. RWE Generation is part of German electricity utility RWE AG.
The power station has a 15-year capacity market agreement which starts in October 2020 and is capable of producing enough power to meet the needs of 400,000 households, almost all the homes in Norfolk, Centrica highlighted.
Centrica was trading 0.7% higher in London on Monday morning at 89.82 pence a share. RWE was down 1.0% in Frankfurt at EUR26.81.
By Evelina Grecenko; [email protected]
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