Centrica today announced it has entered into an agreement to acquire Barry power station in South Wales from AES Barry Ltd and AES Barry Operations Ltd for £39 million.
Centrica today announced it has entered into an agreement to acquire the 240MW Barry power station in South Wales from AES Barry Ltd and AES Barry Operations Ltd, wholly owned subsidiaries of AES Corporation.
The gas-fired power station will be acquired on a debt free basis for a payment of £39.7 million. Centrica will take over responsibility for the operation and management of the combined cycle gas turbine (CCGT) plant, which employs thirty-one staff.
Pending completion in late July, the acquisition will boost Centrica’s total generation capacity to 2,174 MW, approximately 25 per cent of its peak day domestic and commercial electricity customer demand.
Today’s announcement follows Centrica’s acquisition from the administrative receivers of the Roosecote gas fired plant in May. Together with existing generation capacity at Brigg, Humber, King’s Lynn and Peterborough, Centrica has a portfolio of power plants that is said to fit its strategy of increased long term stability and protection against electricity price fluctuations and spikes.
Sir Roy Gardner, Chief Executive of Centrica, said: ’Today’s acquisition of Barry adds to our modern gas fired power stations acquired at advantaged prices. With more than six million electricity customers, we are the number one supplier to the UK domestic market and we now have a leading generation portfolio to cement our position.’