RWE to buy Magnum plant from Vattenfall for €500 million

• 1 year, 11 months ago (2022-06-03)
• David Flin

Europe 1061 Gas 373 Hydrogen 53

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Germany’s RWE has agreed to buy the 1.4 GW Magnum gas-fired plant in Eemshaven in the Netherlands from Vattenfall in a deal valued at €500 million. The plant is “hydrogen-ready”; RWE said in a statement that it “can be made technically suitable to co-fire hydrogen by up to 30 per cent.”

The deal is expected to be closed by the end of September. The deal also covers a 5.6 MW solar park.

Roger Miesen, CEO of RWE Generation, said: “With the Magnum transaction, we are acquiring a state-of-the-art and already hydrogen-ready plant. Its use in combination with our existing plant in Eemshaven enables RWE to develop Eemshaven into one of the leading energy and hydrogen hubs in northwest Europe.”