EQNR - Equinor SSE jointly buy three U.K. power plants in $419M deal

Equinor (NYSE:EQNR) and SSE (OTCPK:SSEZY) said on Tuesday they have teamed up to buy Triton Power Holdings from Energy Capital Partners for £341M (~$419M), to be shared equally between the two companies, and plan to use the site to develop low-carbon projects. Triton's three U.K. electricity plants include the 1.2 GW Saltend power station, a combined cycle gas turbine and combined heat and power plant with generation capacity, which is a potential primary offtaker to Equinor's (EQNR) H2H Saltend hydrogen production project. Triton also owns the 140 MW Indian Queens open cycle gas turbine power station and the decommissioned Deeside CCGT power station. Initial steps to decarbonize the Saltend station already are under way, targeting lower emissions by 2027 by blending as much as 30% hydrogen with the gas supply. Equinor (EQNR), whose H2H Saltend project is expected to be a key to the decarbonization of the Humber industrial area,

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Equinor, SSE jointly buy three U.K. power plants in $419M deal