The Redditch power plant in Worcestershire has been acquired by Welsh Power Group.
Carron Engineering & Construction Generation, a Welsh Power subsidiary, took over First Energy (Redditch) from a number of private shareholders, and will now operate and maintain the plant.
The unit, which was constructed in the early 1990s by Rolls Royce Ventures for Midlands Electricity, is a 26MW open cycle gas turbine plant. It has been operated by the National Grid under a Short Term Operating Reserve (STOR) contract and is used during periods of shortfall in power generation capacity.
Welsh Power Group is an independent power company including Carron Energy, Uskmouth Power, Severn Power, Haven Power, Nevis Power and Carron Engineering & Construction. It is part owned by its management team, supported by financial investors led by Deutsche Bank.
Law firm Wragge & Co advised Welsh Power on the deal. Wragge corporate partner Richard Haywood led the team, supported by associate Sarah Massey, energy expert Gus Wood and solicitor Neil Payne.