RWE has agreed to sell a 420 MW coal-fired power plant in the UK to Czech-Slovak energy investment group EPH.
Lynemouth coal-fired power plant in northern England was purchased by the German utility in 2012.
The sale comes after the European Commission in December approved British plans to subsidize Lynemouth’s conversion to burn biomass instead of coal, a plan RWE at the time said would take 18 months.
RWE is currently transforming its business and prioritising a pooling of its renewables, networks and retail divisions into a new entity.
The purchase is the latest evidence of EPH strategy of building up its portfolio of plants around Europe. It bought a 66 per cent stake in Slovak power utility Slovenske Elektrarne from Italy’s Enel as well as E.ON’s coal- and gas-fired power plants in Italy.
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