Completion of Grain LNG acquisition

Summary by AI BETAClose X

Centrica plc has completed its acquisition of the Grain LNG terminal in partnership with Energy Capital Partners for an enterprise value of £1.5 billion. Following £1.1 billion in new non-recourse project finance debt, Centrica's 50% equity investment amounts to approximately £200 million. This strategic acquisition is expected to deliver attractive returns and shift Centrica's earnings towards stable infrastructure assets, reinforcing the UK's energy security and supporting its clean energy transition. The company also highlighted its significant investments in Sizewell C and potential redevelopment of the Rough gas storage facility, contingent on supportive regulation from Ofgem.

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Centrica (CNA)
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