Engie has sold 1.8 GW of capacity in gas-fired power plants to a US investor, as part of the French energy giant’s transformation plan.

It amounts to 75 per cent of the company’s UK conventional power generation assets, with New Jersey-based private equity firm Energy Capital Partners acquiring €232m in plant.
Engie
The assets put together have a combined capacity of 1,841 MW and they include the 1,197 MW Saltend and 515 MW Deeside gas-fired power plants, and the 129 MW Indian Queens oil-fired peaking plant.

Saltend is a combined cycle gas turbines (CCGT) power station located in Hull, East Riding in Yorkshire which features three gas turbines. The Deeside is also a CCGT power plant, and is located in Flintshire, North Wales, while the Indian Queens is located near Newquay in Cornwall.

Engie says that the divestiture of the UK thermal assets is part of its 2016-2018 transformation plan. Engie’s UK business has been investing in low carbon and flexible power generation to realign its operations in line with the wider strategy of the group.

As part of it, Engie UK has made £50m investment for the Ffestiniog pumped storage power station along with the acquisition of a 23.3 per cent stake in the 950 MW Moray East offshore wind project in Scotland.