The soon to be merged SUEZ and Gaz De France have jointly acquired the Teesside power station, at 1875 MW Europe’s largest combined cycle gas turbine plant.
The acquisition was concluded with Goldman Sachs and Cargill which owned 30% and 70% respectively of Teesside Power Ltd. At the conclusion of the transaction, which must still be submitted to the appropriate authorities for approval, SUEZ, through its subsidiary Electrabel, and Gaz de France will each own 50% of the company.
The plant has been in service since 1993, and is located at the Wilton industrial site in North-east England.
The Gaz de France group thus reinforces its position in the UK where it has been present in the electricity market since 1993. The acquisition will raise its total installed production capacity in the UK to,150 MW.
This acquisition also expand the scope of Suez energy activities in the UK where its London subsidiary Suez Global LNG coordinates the SUEZ Group’s worldwide LNG activities. Through its various natural gas, energy services, and environment activities, SUEZ has been present in the United Kingdom since 1984.
