Divestiture of UK assets
Press Release (January 26, 2023)
Rocksavage, Coryton, Spalding and SEEL are the four gas-fired power plants of InterGen in the United Kingdom, which until the end of January belonged to the Czech group Sev.en Global Investments and the Chinese energy groups China Huaneng and Guangdong Energy. On January 25th, both partners closed the transaction to sell their fifty percent shares in the UK assets to a single bidder. Ownership of the Australian power plants, which are also part of InterGen's portfolio, is not affected by the transaction.
Sev.en Global Investments has acquired the 50% interest in InterGen in June 2019. "We were a very active investor, working with both management and shareholders. We have identified opportunities for growth and cost savings, we have implemented the ESG standards including reporting, we have modernized the trading infrastructure and the hedging strategy. In more than three years we have significantly improved the operations, which is clearly visible from the financial results - the EBITDA increased almost four times during this period," adds Alan Svoboda, the CEO of Sev.en Global Investments.
InterGen is one of the largest independent power producers in the United Kingdom with around 2,800 megawatts in operation between three combined cycle gas turbine plants and one open cycle gas turbine plant, providing in the region of 5% of UK generation capacity.
The transaction reflects the long-term strategy of Sev.en Global Investments to use interesting investment opportunities across regions and in cooperation with managements to increase the value of investments and achieve sustainable growth.
Spokesperson, Sev.en Global Investments
GSM: +420 775 299 337
Gabriela Sáričková Benešová
Spokesperson, Sev.en Group
GSM: +420 725 327 758