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Macquarie Group Buys Natural-Gas Power Stations on Hunch Profits are Set to Rise
Jan. 16, 2013 08:58AM PST
Oil and Gas InvestingBloomberg reported that Australian investment bank Macquarie has bought two natural gas-fed power stations in the U.K., believing that profits are set to rise after an extended period of decline.
Bloomberg reported that Australian investment bank Macquarie has bought two natural gas-fed power stations in the U.K., believing that profits are set to rise after an extended period of decline.
As quoted in the market report:
Macquarie purchased the 540-megawatt Baglan Bay plant in Wales from General Electric Co. in October, Nicole Grove, a spokeswoman for the bank in London, said by e-mail yesterday. It acquired the 819-megawatt Sutton Bridge facility in eastern England from Electricite de France SA last month. The profit from burning gas next month, known as the clean-spark spread, fell 21 percent last year after dropping 48 percent in 2011 and 29 percent in 2010, according to data compiled by Bloomberg.