Centrica has agreed to sell its 382-megawatt combined-cycle gas turbine power station in King's Lynn, England, to RWE Generation for £105 million ($137 million), as of December 2019 valuations. The transaction is expected to complete in first quarter 2020.
The transaction forms part of the noncore asset disposal program announced in February 2019.
The new King's Lynn combined-cycle gas turbine power station was commissioned on Nov. 18, 2019, following a major replant by Siemens, including the installation of a new gas turbine. The power station is designed for maximum efficiency and flexibility, supporting the transition to a low carbon energy system which is increasingly reliant on intermittent renewables.
The power station has a 15-year capacity market agreement that starts in October 2020 and is capable of producing enough power to meet the needs of 400,000 households, almost all the homes in England’s Norfolk county.