Britain's Centrica acquires 850 MW gas plant

LONDON, May 7 (Reuters) - ​Britain's ⁠Centrica said on Thursday ​it has acquired the Severn ​850-megawatt combined ‌cycle gas turbine plant ⁠in south Wales from ⁠Calon Energy Group ​for 370 million pounds ($503.90 million).

This brings Centrica's total UK and ​Ireland ‌electricity generation capacity to 4 gigawatts, including 1 GW of assets in planning ​and construction phases, or enough ‌to power up to 6 million homes.

Centrica said ‌it will fund the acquisition of Severn from existing cash resources, ​on a cash-free, debt-free basis.

Severn ‌is positioned near growing sources of power demand, including data centre ⁠developments ⁠in south Wales, ‌Centrica added.

The plant is expected to deliver ​average ​capacity market payments ‌of 35 million pounds a year until 2030. ($1 = 0.7343 pounds) (Reporting by Nina Chestney)

Centrica