One of the UK’s largest independent power producers has been acquired by an investment group, and its energy division, the 4th largest energy distributor in the Czech Republic.

InterGen’s parent company has today concluded the sale of InterGen and its UK operations to CREDITAS Group.

InterGen has operated flexible gas assets in the UK for more than 25 years and its projects produce enough power to supply nearly three million homes, the equivalent of 5% of the UK’s electricity supply.

The power producer has around 2,800MW in operation between three combined-cycle gas turbine plants and one open-cycle gas turbine plant.

The company’s UK portfolio also includes the 450MW ‘Gateway Energy Centre’ battery energy storage system development project, expected to become Europe’s largest.

CREDITAS will own all of InterGen’s UK sites, plus its growth projects, Edinburgh headquarters and employees across the region.

Jim Lightfoot, InterGen’s Chief Executive Officer, said: “This sale will allow us to move forward with renewed certainty, accelerating the energy transition through our growth projects and providing energy for generations to come.”

Jiří Hrouda, CREDITAS Group Chief Executive Officer, said: “We are delighted to expand our operations outside the Czech Republic and enter the UK market at this crucial time.”

Article source: https://www.energylivenews.com/2023/01/27/czech-energy-distributor-acquires-uk-power-producer/