Scottish and Southern Energy Plc (SSE) has acquired Uskmouth Power Company from Welsh Power Group for £27 million in cash.
Scottish and Southern Energy Plc (SSE) has acquired Uskmouth Power Company from Welsh Power Group for £27 million in cash.
Uskmouth Power Company operates a coal-fired power station near Newport, South Wales. The power station dates from the 1960s and currently employs 100 people, who will join SSE.
In May 2009, SSE acquired Abernedd Power Company from BP, and is awaiting the outcome of Abernedd’s application to construct a new gas turbine power station on its brownfield site at Baglan Bay in South Wales. SSE supplies electricity and gas to one million customers in Wales.
Ian Marchant, chief executive of SSE, said: ‘It is generally accepted that the UK’s current portfolio of coal-fired power stations still have a crucial role to play in keeping the country’s lights on and Uskmouth has the flexibility to help meet demand for power over the next few years.’
Added Marchant: ‘We are still focusing on our target of reducing the carbon intensity of our power generation by 50 per cent between 2006 and 2020, and Uskmouth will have a role to play in this, since it also provides an opportunity to develop a new lower carbon generation asset on the site.’
In the twelve months ending March 2009, SSE reported pre-tax profits of £1.3 million.
