Top oil trader completes purchase of English CHP plant

One of the world’s top oil traders has completed the purchase of its first power plant asset, and one of the largest combined heat and power (CHP) plants in Europe.

Vitol has purchased the 1,240MW gas-fired cogeneration plant in Immingham, northeast England, in a bid to spread risk and diversify its energy trading business.

Following the takeover from Phillip 66 the plant will be renamed VPI Immingham.

Located on the south bank of the river Humber, it is one of the largest cogeneration plants in Europe, generating 1240MW of electricity.

It also supplies up to 930 tonnes of steam per hour which is used in a nearby oil refineries to help turn crude oil into products, such as gasoline, according to Gas to Power Journal. It is fuelled by natural gas and surplus refinery gas, with liquid fuel as a backup.

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