West Burton Energy (“WBE”) a UK-based independent power producer, today announced that it has signed a binding agreement to sell the West Burton B 1332MW Combined Cycle Gas Turbine facility and the 49MW Battery Energy Storage System located in Nottinghamshire, England to TotalEnergies for an enterprise value of £450million (the “Transaction”). WBE is owned by funds managed by EIG, a leading institutional investor in the global energy and infrastructure sectors. Walid Mouawad, Managing Director & Global Co-Head of Energy Transition at EIG, said: “EIG is proud that, over the course of our ownership, West Burton Power Station has played an important role in the UK power market by providing reliable and flexible generation while renewables continue to ramp up. Following this transaction, we look forward to supporting the continued growth of the company’s storage pipeline with a strong focus on flexibility, scale and decarbonization.’’
West Burton Energy, today announced that it has signed a binding agreement to sell the West Burton B 1332MW Combined Cycle Gas Turbine facility and the 49MW Battery Energy Storage System to TotalEnergies for an enterprise value of £450million. Chris Elder, Chief Executive Officer of West Burton Energy, said: “We are thrilled by the strong interest in this transaction from across the sector, and we are delighted by the outcome. Following completion of the sale, our ambition is to establish a world-class platform to develop, build, operate and optimise large-scale storage assets that provide essential flexibility to electricity systems.”
