Centrica plc today announces it has acquired an option to purchase the total share capital in a subsidiary of Carlton Power Limited which owns land and consents for developing a gas fired power station of up to 1000MW at Langage, Devon.
Centrica now has the right to acquire Wainstones Power Limited and ultimately to develop and construct a new combined cycle gas turbine (CCGT) plant.
A decision to progress to construction would include an agreement with Carlton Power Limited to provide a range of essential pre-development project services. This would bring total net consideration, excluding construction costs, to approximately £12.8 million, part of which has already been committed.
Jake Ulrich, Managing Director of Centrica Energy, said: "This agreement enables us to buy in to one of the few consented power station projects in the UK at an attractive price, giving Centrica the ability to progress development of a plant with specific locational and long term benefits.
"This aligns with our strategy of adding to our flexible generation portfolio which reflects the growth in our electricity business, while enhancing the security of supply position for our customers and the UK market."