Funds managed by EIG have agreed to acquire the 1,332-megawatt Combined Cycle Gas Turbine (CCGT) power station and 49-megawatt battery in England from EDF Energy. Financial terms were not disclosed.
West Burton B CCGT is EDF's only gas-fired power station in the United Kingdom and has the capacity to generate enough electricity to power 1.5 million U.K. homes, according to global law firm White & Case, which advised EIG on the transaction.
The West Burton battery is one of Europe’s largest battery storage assets, with installed capacity of 49 megawatts.
Headquartered in Washington, D.C., EIG is an institutional investor to the global energy sector with $22 billion under management, as of Dec. 31, 2020. The firm specializes in private investments in energy and energy-related infrastructure on a global basis.
