West Burton Energy (WBE) has agreed to sell the West Burton B 1332MW combined cycle gas turbine (CCGT) and a 49MW battery on the same site in Nottinghamshire to TotalEnergies for an enterprise value of £450 million.

WBE is owned by funds managed by EIG, an institutional investor in the global energy and infrastructure sectors. Chris Elder, Chief Executive Officer of WBE, said: “We are thrilled by the strong interest in this transaction from across the sector, and we are delighted by the outcome. Following completion of the sale, our ambition is to establish a world-class platform to develop, build, operate and optimise large-scale storage assets that provide essential flexibility to electricity systems.”

Lazard served as WBE’s financial adviser on the transaction, and White & Case served as WBE’s legal adviser. PWC (tax and finance), Baringa (market), Aon (insurance) and Black & Veatch (technical) also provided advice to WBE on the transaction.

WBE is currently developing a 299MW open cycle gas turbine (OCGT) at the same site (West Burton C) and a 2.9GWh battery at Thorpe Marsh in Yorkshire. Both are expected to come online in 2026 or 2027.