UK power transactions ramp up
UK thermal power assets are changing hands with the following portfolios in play:
UKPR, the UK gas engine & battery developer, has just been sold to Singaporean utility Sembcorp by private equity players Inflexion & Equistone for £216 million, after a complex & drawn out process.
Green Frog UKPR’s major competitor has had less luck with its parallel sales process with preferred bidder I-squared pulling out (8 £/kW capacity price unlikely to have helped).
Scottish Power has flagged the potential sale of UK gas-fired plants (timing to be confirmed) in stark contrast to its rival SSE who has just announced a £350m investment in a new CCGT (Keadby 2).
Calon is considering the sale of its portfolio of 3 UK CCGTs according to a recent FT article. This would follow Centrica & Engie’s sales of UK CCGT portfolios.
Centrica & EDF are both planning to sell stakes in existing UK nuclear assets, Centrica to exit & raise capital and EDF to sell down a 20-30% stake.