News

West Burton Energy created with EIG investment

KUALA LUMPUR, Sept 1 -- West Burton Energy has been created as a leading supplier of electricity in the United Kingdom after EIG, an institutional investor to the global energy sector and one of the world’s leading infrastructure investors, acquired a portfolio of power generation assets from EDF Energy.

The transaction, which closed on Aug 31, includes West Burton B, a 1332 MW Combined Cycle Gas Turbine (CCGT) power station, and a 49 MW battery in Nottinghamshire, England.

EIG Chairman and Chief Executive Officer, R. Blair Thomas, said in a statement: “This transaction is consistent with our strategy to invest in high-quality assets, best-in-class teams and critical energy infrastructure.”

“Gas-fired power stations have demonstrated their strategic importance in the U.K.’s electricity supply system, and our investment in West Burton Energy underscores our confidence in the continued role that gas will play in facilitating the energy transition.”

Meanwhile, Managing Director at EIG, Walid Mouawad, said: “This is a fantastic opportunity for our investors as West Burton Energy embarks on a path forward to deliver solutions capable of supporting a net-zero future.”

West Burton B is a highly flexible and efficient CCGT Plant with three combined cycle units, which can generate enough electricity to power approximately 1.5 million homes, and is linked to one of Europe’s largest battery storage assets.

Together, these technologies provide essential on-demand energy products, critical in supporting the UK’s changing grid landscape and transition to a low carbon economy.

Cantor Fitzgerald acted as financial adviser to EIG in connection with the transaction, and White & Case served as legal adviser.

More details at www.eigpartners.com.

-- BERNAMA

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