InterGen gas business acquired by Sev.en Global Investments

InterGen confirms the acquisition by Sev.en Global Investments on 2 February 2024 of the InterGen gas-fired power generation business.

Headquartered in Edinburgh, InterGen is one of the UK’s largest independent power producers, and has a portfolio which includes three combined-cycle turbine plants in Coryton (Essex), Spalding (Lincolnshire) and Rocksavage (Cheshire), as well as an open-cycle gas turbine plant in Spalding. The transaction also involves the Spalding battery energy storage system development project located adjacent to the Spalding power plant.

Sev.en Global Investments, a Czech investment group with interests across a range of sectors, particularly in power generation, has acquired the InterGen business and power plants from CREDITAS Group.

A world class developer, owner and operator of power generation facilities, with over 25 years’ experience in the UK, InterGen’s sites comprise 2,800 megawatts of capacity, representing around 5% of UK generation.

The deal does not encompass the 450 megawatt ‘Gateway Energy Centre’ battery energy storage system development project which was awarded a 15-year capacity market agreement in February 2022, or the pipeline of battery energy storage system projects which InterGen has been developing in Scotland.  These will continue to be developed separately.

Karel Nohejl, InterGen’s Chief Executive Officer, said:

“We are excited to become part of the Sev.en Global Investments group with its truly global reach and remarkable growth momentum.  We remain committed to our core missions of supplying energy to millions of homes across the UK and providing flexible and reliable power sources for generations to come, and look forward to collaborating with the Sev.en team.”

Alan Svoboda, CEO of Global Investments, said:

“The UK energy sector has been our focus for several years and InterGen constitutes a well-established high-quality platform for our growth in the region, which is a part of our strategy for the upcoming year.”

ENDS

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Amy Colwell

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