Welsh Power has disposed of its Severn Power gas-fired power station development asset in a transaction concluded on 6 March 2009 with Danish energy company, DONG Energy.

The Severn Power station, which is located in South Wales, is currently under construction and is expected to be commissioned at the end of 2010. It will have a capacity of 850 MW and at commissioning is expected to be one of the most efficient gas-fired power stations in the United Kingdom. The overall budget for construction of the power station is nearly £600 million (including DONG Energy’s purchase price). Morgan Cole were originally retained on the Severn Power project in 2005 working on all aspects of the project to-date and the property and construction team worked with the Welsh Power sale team in the recent transaction.

Welsh Power is a company which owns and develops generation assets  owns and operates the 360MW coal-fired Uskmouth Power station near Newport in South Wales (adjacent to the Severn Power development), as well as the 50MW Leven Power. It is developing an 850MW gas-fired project, Wyre Power, in Lancashire, and has planning permission for Nevis Power, a 50MW biomass plant planned for in Newport docks. 

Morgan Cole are currently instructed on both development projects for Wyre Power and Nevis Power.

For further information please contact Paul Millar by telephone on 029 2038 5484 or by email.