EDF reached an agreement with EIG to sell its 1332 MW Combined Cycle Gas Turbine power station and 49 MW battery at West Burton B CCGT power station, near Gainsborough.
Both parties aim to complete the transaction as soon as possible in 2021, subject to all applicable regulatory authorisations.
West Burton B CCGT is EDF Energy's only gas-fired power station.
It has three combined cycle units capable of generating enough electricity for approximately 1.5 million UK homes.
It has approximately 60 full time EDF Energy employees, plus additional supplier partner support employed during station outage who will all be transferring to the new owner EIG.
This news comes just a few weeks after the decision to end generation at West Burton A power station in September 2022, two years ahead of the Government’s deadline for coal-fired power.
This latest development means EDF will stop fossil fuel generation and focus on nuclear and renewables.
EIG is a leading institutional investor to the global energy sector with $22.0 billion under management as of December 31, 2020.
EIG specializes in private investments in energy and energy-related infrastructure on a global basis.
During its 39-year history, EIG has committed more than $34.9 billion to the energy sector through more than 365 projects or companies in 36 countries on six continents.