NRG Energy divests stake in German power plant

18 July 2012 (Last Updated July 18th, 2012 18:30)

NRG Energy has divested its minority ownership interest in the 900MW Schkopau power plant located near Halle, Germany.

NRG Energy has sold its minority ownership interest in the 900MW Schkopau power plant located near Halle, Germany.

The stake has been acquired by the EP Energy group, a Czech Republic-based coal mining and electricity company, for €141m.

David Crane president of NRG Energy, said Schkopau has been a solid performer in its conventional fleet for many years.

"Given NRG's focus on retail electricity, conventional generation in our core domestic markets, and fast-growing clean energy businesses, we can use the sale of non-core assets like Schkopau to invest in initiatives that leverage our core facilities and operations," he said.

NRG held a 41.9% interest in the coal-fired plant through its wholly owned subsidiary Saale Energie (SEG), and German partner E.ON Kraftwerke.

Kraftwerk Schkopau Betriebsgesellschaft, the plant's operating company, will retain its 44.4% stake.