New UK independent power producer created with investment from EIG

West Burton Energy has been created Thursday 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 August 31, 2021, includes West Burton B, a 1332 MW Combined Cycle Gas Turbine (“CCGT”) power station, and a 49 MW battery in Nottinghamshire, England.

R. Blair Thomas, EIG’s Chairman and Chief Executive Officer, said, “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.”

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.

“The station’s high efficiency means less fossil fuel is consumed and lower levels of emissions are produced for every unit of electricity generated,” explained Mike Nason, West Burton Energy’s Station Manager. “Considering this, along with the fact that our newly independent station is one of the most recent builds in the country, West Burton Energy is well-positioned at the forefront of the U.K.’s evolving energy market.”

Walid Mouawad, Managing Director at EIG, added, “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. With the strong growth of renewable generation, we believe that battery storage technology will continue to support the stability of the U.K.’s national grid network. EIG is delighted to partner with this incredible team and to be a part of West Burton Energy’s exciting next chapter.”

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

West Burton Energy is a newly formed independent power producer and a leading supplier of electricity in the United Kingdom. (Agencies)