UK's Teesside Power Station Sold

French firms Gaz de France and Suez have each acquired a 50 percent stake in Europe's largest combined-cycle gas turbine plant near Middlesbrough in the UK.

The Teesside power station provides three percent of the UK's electricity, generating 1,875MW through gas and steam turbines.

The plant, which opened in 1993, was previously owned by US food and agriculture services group Cargill and investment bank Goldman Sachs following the collapse of previous owner Enron in 2001.

Financial details of the deal have not been disclosed.

By staff writer