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ESB to sell 50% stake in UK and Spanish power stations

The company is to sell its shareholdings in Marchwood Power in England and Bizkaia Energia SL in Northern Spain.

Image: Mark Stedman/Photocall Ireland

ESB HAS ANNOUNCED that it is to sell its 50 per cent shareholding in each of its international tolling plants.

The company owns a 50 per cent stake in Marchwood Power, an 840MW power station near Southampton in England which commenced construction in 2007 and entered commercial operations in late 2009. The company is also owned by Southern Energy (SSE).

Along with Osaka Gas of Japan, ESB also jointly owns Bizkaia Energia SL, a 755MW power station in Amorebieta in Northern Spain. ESB will sell its shareholding for the plant, which was the first internationally-owned Independent Power Producer (IPP) in Spain, has been in commercial operation since 2005.

In a statement from ESB, they say they played a significant role in developing both stations including “the origination of both opportunities, the raising of finance, the forming of partnerships with two international utilities, Osaka Gas and SSE and the management function at the construction phase of both stations”.

“Both have been good investments for ESB and are a testimony to ESB’s internationally recognised skills in engineering and project management,” the statement read.

Read: ESB staff vote in favour of cost-cutting plan with 1,000 job losses >

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Amy Croffey

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