13th Jan 2006 09:37
Scottish & Southern Energy PLC13 January 2006 ACQUISITION OF ADDITIONAL STAKE IN BARKING POWER LTD Scottish and Southern Energy plc ("SSE") has acquired an additional 8.36% stakein Barking Power Ltd from the administrators of TXU Europe Power Ltd for a totalcash consideration of £14.59m. The acquisition gives SSE a total stake of 30.4% in the 1,000MW combined cyclegas turbine station, which was commissioned in 1995. It therefore adds 84MW tothe portfolio of electricity generation assets owned by SSE, taking the total toover 10,000MW for the first time. Barking Power's contracts to supplyelectricity are unaffected by the transaction. SSE's share of the offtake fromBarking Power remains at 45%. Ian Marchant, Chief Executive of SSE, said: "This is a very useful acquisition, which complements our other investments incoal-fired generation capacity and in renewable energy and confirms our positionas the owner of the most diverse and flexible group of generation assets in theUK. It is another example of the value which we believe can be created from theincremental addition to our business of assets in the UK." Enquiries to: Scottish and Southern Energy Alan Young, Director of Corporate Communications 0870 900 0410Jennifer McGregor Public Affairs Manager 0870 900 0410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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