Centrica
has announced plans to increase its share in Belgian generation and supply company
SPEto 51 per cent by buying GDF’s 25.5 per cent shareholding for €515m (approximately £406m).
SPE is the second largest power generation company in Belgium with around 1.6GW of gas-fired production capacity.
Its earnings before interest, tax, depreciation and amortisation are approximately €240m (£189m) a year and its profit before tax for the year ending 31 December 2007, was €39m (about £30m).
The completion of the transaction is scheduled to take place in September, when Centrica will pay GDF in cash.
Invinity to build 20MWh flow battery in UK
Redux flow cells have had nowhere near the R+D effort compared to Lithium ion. They certainly have the potential (pun not intended) for longer...