Sev.En Energy and China Huaneng Group have concluded the sale of InterGen transferring ownership of the company’s UK operations to the CREDITAS Group.
The independent power producer’s portfolio includes the 450MW Gateway Energy Centre battery energy storage system (BESS) development project, which was awarded a 15 year capacity market agreement in February 2022.
InterGen’s portfolio also includes similar large-scale BESS projects currently in development as well as three cycle gas turbine plants and a open cycle gas turbine plant with a combined capacity of 2.8GW.
Following the sale, CREDITAS Group will now have ownership of all InterGen’s UK sites, Edinburgh headquarters and growth projects.
“We are delighted to expand our operations outside the Czech Republic and enter the UK market at this crucial time. In addition to the huge growth potential, it is also an opportunity for us to apply our know-how on a larger scale, to exploit synergy effects from different markets while simultaneously diversifying our investments outside the EU,” said Jiří Hrouda, CEO at CREDITAS Group.
Jim Lightfoot, CEO at InterGen echoed Hrouda’s praise of the new ownership: “As InterGen looks to an exciting new future as member of CREDITAS Group, we remain committed to our core mission to supply energy to millions of homes across the UK. 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.”
