RWE grows gas-fired power plant portfolio with King’s Lynn acquisition

RWE has acquired a 382MW gas-fired combined cycle power plant (CCGT) in King’s Lynn, growing its gas portfolio in the UK to 7.2GW.

In late December, it announced that the £105mn acquisition from Centrica is expected to be completed in the first quarter of 2020 and will see it take on more than 30 employees on the site. The plant is set to receive capacity payments from October 2020 with its 15-year contract taking it through to 2035. RWE said that the acquisition had strengthened its position as “one of the largest operators of gas-fired power plants in Europe”.

The King’s Lynn plant was given an extensive technical update, completed in November, with it being equipped with a state-of-the-art new gas turbine. The generator, steam turbine and other components were all comprehensively overhauled. The plant, noted by RWE as being highly flexible, has an efficiency of 57%.