Cap Dyn buys UK Coal assets

摘要

Capital Dynamics has completed the acquisition of a 26-MW portfolio of gas-fired power plants from UK Coal, the Swiss-headquartered private asset manager said October 9.The portfolio consists of fourteen gas engines across four sites in North Yorkshire and the East Midlands (Kellingley, Thoresby, Harworth and Stillingfleet mines) that recover waste mine methane and convert it to electricity. The electricity generated is either used at UK Coal sites or supplied to the relevant regional electricity distribution network.In June this year UK Coal said it had entered into a conditional agreement with Capital Dynamics to sell the assets for £20.3 (€25) million, of which £20 million was payable by the buyer in cash on completion. Payment of the remaining £0.3 million was dependent upon future rights to gas extraction being granted by the Department of Energy and Climate Change.