{"id":2627,"date":"2021-08-31T16:27:28","date_gmt":"2021-08-31T16:27:28","guid":{"rendered":"https:\/\/dev.pixflex.com\/eig2\/?p=2627"},"modified":"2021-08-31T17:26:13","modified_gmt":"2021-08-31T17:26:13","slug":"new-uk-independent-power-producer-created-with-investment-from-eig","status":"publish","type":"post","link":"https:\/\/dev.pixflex.com\/eig2\/new-uk-independent-power-producer-created-with-investment-from-eig\/","title":{"rendered":"New UK Independent Power Producer Created with Investment from EIG"},"content":{"rendered":"
\n

EIG completes acquisition of 1332 MW Combined Cycle Gas Turbine (CCGT) power station and 49 MW battery in Nottinghamshire, England<\/em><\/p>\n

West Burton Energy<\/span><\/span>, a newly created company,<\/span><\/span> is well-positioned <\/span><\/span>to <\/span><\/span>support<\/span><\/span> the <\/span><\/span><\/strong>energy transition.\u00a0 \u00a0 <\/strong><\/span><\/span><\/em><\/p>\n

\u00a0\"\"\u00a0 \u00a0\u00a0\"\"\u00a0 \u00a0 \u00a0\u00a0<\/p>\n

NOTTINGHAMSHIRE<\/span><\/span>, <\/span><\/span>England<\/span><\/span> \u2014<\/span><\/span> August 31<\/span><\/span>, 2021<\/span><\/span> \u2014<\/span><\/span> West Burton Ener<\/span><\/span>gy<\/span><\/span> has<\/span><\/span> been <\/span><\/span>created<\/span><\/span> today <\/span><\/span>as <\/span><\/span>a leading supplier of electricity in the United Kingdom<\/span><\/span> after<\/span><\/span> EIG, a<\/span><\/span>n <\/span><\/span>institutional investor to the global energy sector and one of the world\u2019s leading infrastructure investors<\/span><\/span>,<\/span><\/span> acquired <\/span><\/span>a portfolio of power generation assets from EDF Energy. <\/span><\/span>The transaction, which closed on August 31, 2021, includes<\/span><\/span> West Burton B,<\/span><\/span> a <\/span><\/span>1332 <\/span><\/span>MW <\/span><\/span>Combined Cycle Gas Turbine <\/span><\/span>(\u201cCCGT\u201d) <\/span><\/span>power station<\/span><\/span>,<\/span><\/span> and<\/span><\/span> a<\/span><\/span> 49 MW battery in Nottinghamshire, England<\/span><\/span>.<\/span><\/span><\/p>\n

R. Blair Thomas, EIG<\/span><\/span>\u2019s<\/span><\/span> Chairman and Chief Executive Officer, said, \u201c<\/span><\/span>This transaction is consistent with our strategy to invest<\/span><\/span> in high-quality assets, <\/span><\/span>best-in<\/span><\/span>-class teams and critical energy infrastructure. Gas-fired power stations have demonstrated their strategic importance in the <\/span><\/span>U.K.\u2019s<\/span><\/span> electricity supply system<\/span><\/span>,<\/span><\/span> and our investment in West Burton Energy underscores our confidence in the continued role that gas will play in <\/span><\/span>facilitating <\/span><\/span>the energy transition.\u201d<\/span><\/span><\/p>\n

West Burton B <\/span><\/span>is a highly flexible and efficient <\/span><\/span>CCGT <\/span><\/span>Plant <\/span><\/span>with <\/span><\/span>three combined cycle units<\/span><\/span>,<\/span><\/span> which<\/span><\/span> can<\/span><\/span> generat<\/span><\/span>e<\/span><\/span> enough electricity <\/span><\/span>to power<\/span><\/span> approximately 1.5 million <\/span><\/span>homes<\/span><\/span>, and<\/span><\/span> is <\/span><\/span>linked to<\/span><\/span> one of Europe\u2019s largest battery storage assets<\/span><\/span>.<\/span><\/span> Together, these technologies provide essential on-demand energy products, <\/span><\/span>critical<\/span><\/span> in supporting the UK\u2019s changing grid landscape and transition to a low carbon economy.<\/span><\/span><\/p>\n

\u201c<\/span><\/span>The station\u2019s<\/span><\/span> h<\/span><\/span>igh efficiency means less fossil fuel is consumed and lower levels of emissions are produced for every unit of electricity generated<\/span><\/span>,<\/span><\/span>\u201d <\/span><\/span>explained<\/span><\/span> Mike Nason<\/span><\/span>,<\/span><\/span> West Burton <\/span><\/span>Energy<\/span><\/span>\u2019s<\/span><\/span>S<\/span><\/span>tation<\/span><\/span> Manager.<\/span><\/span> \u201c<\/span><\/span>Considering this, along with the fact that <\/span><\/span>our<\/span><\/span>newly independent<\/span><\/span> station is one of the <\/span><\/span>most recent<\/span><\/span> builds in the <\/span><\/span>country<\/span><\/span>, West Burton Energy i<\/span><\/span>s well-positioned <\/span><\/span>at the forefront of the U.K.\u2019s evolving energy market.\u201d<\/span><\/span><\/p>\n

Walid Mouawad<\/span><\/span>, Managing Director at EIG, <\/span><\/span>added<\/span><\/span>, \u201c<\/span><\/span>This is a fantastic opportunity for <\/span><\/span>our investors as<\/span><\/span> West Burton Energy<\/span><\/span>embarks on a pa<\/span><\/span>th<\/span><\/span> forward to <\/span><\/span>deliver <\/span><\/span>solutions capable of <\/span><\/span>supporting<\/span><\/span> a net<\/span><\/span>–<\/span><\/span>zero <\/span><\/span>future<\/span><\/span>. <\/span><\/span>With<\/span><\/span> the strong growth of renewable generation, <\/span><\/span>we believe that <\/span><\/span>battery storage technology<\/span><\/span> will continue <\/span><\/span>to <\/span><\/span>support<\/span><\/span> the stability of the <\/span><\/span>U.K.\u2019s <\/span><\/span>national grid network.<\/span><\/span> EIG is delighted to <\/span><\/span>partner with<\/span><\/span> this incredible team<\/span><\/span> and <\/span><\/span>to <\/span><\/span>be a part of West Burton Energy\u2019s exciting next chapter.<\/span><\/span>\u201d<\/span><\/span><\/p>\n

Cantor Fitzgerald<\/span> acted as financial advisor to EIG in connection with the transaction, and White & Case served as legal advisor. <\/span><\/p>\n

\f<\/span><\/p>\n

About West Burton Energy<\/span><\/strong><\/p>\n

West Burton Energy is <\/span>a newly formed <\/span>independent power producer<\/span> and <\/span>a leading supplier of electricity in the United Kingdom. The Company operates a 1332 MW Combined Cycle Gas Turbine (CCGT) power station<\/span>,<\/span> a <\/span>49MW <\/span>battery and <\/span>has a <\/span>permitted site for a planned Open Cycle Gas Turbine (OCGT) project<\/span>, located <\/span>in Nottinghamshire, England. For additional information, please visit West Burton Energy\u2019s website at <\/span>www.westburtonenergy.com<\/span><\/a>.<\/span><\/p>\n

\u00a0<\/p>\n

About EIG<\/span><\/span><\/strong><\/p>\n

EIG is a leading institutional investor to the global energy sector with $22.5 billion under management as of June 30, 2021. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $38.0 billion to the energy sector through more than 373 projects or companies in 38 countries on six continents. EIG\u2019s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG\u2019s website at <\/span>www.eigpartners.com<\/span><\/a>.<\/span><\/p>\n

 <\/p>\n

Media Contact<\/span>s:<\/span><\/strong><\/p>\n

West Burton Energy<\/span><\/strong><\/p>\n

FTI Consulting<\/span><\/p>\n

Stephanie Randall<\/span><\/p>\n

+1 212-850-5603<\/span><\/p>\n

WestBurtonEnergy@fticonsulting.com<\/span><\/a><\/p>\n

\u00a0<\/p>\n

EIG<\/span><\/strong><\/p>\n

Sard Verbinnen & Co.<\/span><\/p>\n

Kelly Kimberly \/ Brandon Messina<\/span><\/p>\n

+1 212-687-8080<\/span><\/p>\n

EIG-SVC@sardverb.com<\/span><\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

EIG completes acquisition of 1332 MW Combined Cycle Gas Turbine (CCGT) power station and 49 MW battery in Nottinghamshire, England West Burton Energy, a newly created company, is well-positioned to support the energy transition.\u00a0 \u00a0 \u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0 \u00a0\u00a0 NOTTINGHAMSHIRE, England \u2014 August 31, 2021 \u2014 West Burton Energy has been created today as a […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2627","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nNew UK Independent Power Producer Created with Investment from EIG - EIG Partners<\/title>\n<meta name=\"description\" content=\"EIG completes acquisition of 1332 MW Combined Cycle Gas Turbine (CCGT) power station and 49 MW battery in Nottinghamshire, England\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.pixflex.com\/eig2\/new-uk-independent-power-producer-created-with-investment-from-eig\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New UK Independent Power Producer Created with Investment from EIG - 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