BG sells stake in Seabank Power

Integrated gas company BG has announced that it has signed a £211.7m sale and purchase agreement with Electricity First, a wholly owned subsidiary of Cheung Kong Infrastructure, for the sale of its 50 per cent interest in Seabank Power.

Seabank Power operates the 1,140MW combined-cycle gas turbine (CCGT) Seabank power plant, located near Bristol in the UK.

The transaction is expected to complete in the second quarter of 2010.