SSEZY SSE PLC (PK)

By Jaime Llinares Taboada

U.K. energy group SSE PLC said Tuesday that it is acquiring Triton Power Holdings Ltd. with Norway's Equinor ASA from Energy Capital Partners for 341 million pounds ($418.3 million) to be shared equally between the two companies.

Triton is the owner of the Saltend power station in England, a combined cycle gas turbine and combined heat & power plant with generation capacity of 1,200 megawatts. The site is a potential primary offtaker to Equinor's Saltend hydrogen production project, SSE said.

The portfolio also includes the 140-megawatt Indian Queens open cycle gas turbine power station in Cornwall, England, and the decommissioned Deeside CCGT power station in north Wales.

"Flexible energy will be absolutely essential as renewable energy scales up over the coming years, providing vital back-up while protecting security of supply. But the real prize will be how we decarbonise that flexible energy over the longer term, and we are excited, in particular, by the hydrogen and carbon capture opportunities at Saltend," SSE Thermal managing director Catherine Raw said.

The deal is expected to complete in September, subject to regulatory approvals.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

June 28, 2022 02:37 ET (06:37 GMT)

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