TotalEnergies Buys Gas-Fired Power Plant in UK for £450 Million
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TotalEnergies SE agreed to buy a gas-fired power plant in the UK from EIG Global Energy Partners for an enterprise value of £450 million ($575 million) to complement its renewable energy assets in the country.
The acquisition of West Burton B power station, which comprises three combined-cycle gas turbines with a total output of 1.3 gigawatts and a small battery storage, will strengthen TotalEnergies’s trading capacity in the UK, the French company said in a statement Wednesday. Given the size of its renewables portfolio, the company plans to divest half of the asset acquired from EIG.