TPG backed 2Co Energy snaps up Powerfuel Power

The sales process emerged when the company's parent company Powerfuel Plc went into administration in December. 2Co was the preferred bidder.

Company
Powerfuel Power Ltd is a power generation company. It is currently developing a station in Stainforth, South Yorkshire. The facility will be renamed into Don Valley Power Project. Plans are to produce 900 megawatts of low-carbon electricity starting in 2015. After its completion, Don Valley will provide capacity for 5 million tons of carbon dioxide a year to be stored beneath the North Sea.

Previously, the project received funds of €180m from the EU's European Energy Program for Recovery.

 

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