Engie, Mitsui Divest 3 UK Plants

France's Engie said October 31 it has signed an agreement with Energy Capital Partners (ECP) for the sale of its 75% interest in three UK power plants.

Two are gas-fired power plants: Saltend near Hull (1,197 MW) and Deeside in north Wales (515 MW). The third is the 129 MW Indian Queens oil-fired peaking plant in Cornwall. Together, they have a total gross capacity of 1,841 MW. Mitsui is the other owner with 25% and is also divesting.

Engie said both it and Mitsui are selling their interests in all 3 plants to ECP, a private equity firm focused on investing in energy infrastructure.

The sale represents a total enterprise value of £205mn (€232mn) and the transfer of the three assets to ECP will be effective as of October 31. 

Mark Smedley