InterGen’s owners Sev.En Energy and China Huaneng Group/Guangdong Energy Group have sold InterGen and its UK operations to Creditas Group.
InterGen operates around 2,800MW in the UK, with three combined cycle gas turbine plants in Coryton (Essex), Spalding (Lincolnshire) and Rocksavage (Cheshire) and one open cycle gas turbine plant (Spalding Energy Expansion). It also owns the 450 MW ‘Gateway Energy Centre’ battery development, expected to become Europe’s largest. The battery project which was awarded a 15 year capacity market agreement in February 2022 and is due to commence operations in 2025.
The sale also includes a pipeline of similar large battery projects in development. Along with these assets plus its growth projects, Edinburgh headquarters and employees across the region Creditas will acquire growth projects, the Edinburgh headquarters and employees across the region
Creditas Investment Group has been active in the energy sector since 2013 and its energy division UCED is the fourth largest energy distributor in the Czech Republic. It targets ownership interests in companies engaged in the production, distribution and trading of electricity, gas and heat. It is owned by Pavel Hubáček who also owns Creditas Bank.
Jiří Hrouda, Creditas Group chief executive, said: “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.”