TotalEnergies acquires UK gas-fired power plant for £450 million copy

TotalEnergies acquires UK gas-fired power plant in £450-million deal

NOTTINGHAMSHIRE, June 5, 2024 – TotalEnergies has signed an agreement with EIG for the acquisition of all the shares of West Burton Energy for an enterprise value of GBP 450 million.

West Burton Energy owns and operates the West Burton B gas-fired power plant in Nottinghamshire, England. The plant comprises three combined-cycle gas turbines with a total output of 1.3 GW.

Commissioned in 2013, it is among the UK’s most advanced power plants and supplies around 1.8 million homes with power. A 49-MW battery storage system was added in 2018, TotalEnergies noted.

US-headquartered EIG is an institutional investor in the global energy and infrastructure sectors.

TotalEnergies said the acquisition is in line with its development as an integrated electricity player.

“This acquisition contributes to our integrated strategy in the UK, which combines renewable and flexible generation capacity,” the company’s president for gas, renewables and power, Stéphane Michel, said.

“It complements our 1.1 GW Seagreen offshore wind farm and allows us to accelerate development of our integrated power activities in power generation, trading and marketing in this market.”

In October 2022, carbon capture player Viking CCS agreed to capture, transport and permanently store emissions from the plant.

Image of the West Burton B plant courtesy of Viking CCS.