GE Energy goes again with auction of Port Talbot plant

Baglan Bay to be sold at the end of the year, as electrical giant focuses on nuclear bid




GE Energy, a division of US giant General Electric, is to sell its £500m Baglan Bay gas-fired power station in Port Talbot, South Wales, by the end of the year.

A sale was originally planned last year, but GE Energy stopped the auction for undisclosed reasons despite interest from a Gazprom-E.ON joint venture.

Magued Eldaief, the recently appointed managing director of GE Energy's UK arm, said he hoped the sale would be helped by improved market conditions towards the end of the year.

"The sale should be in the latter part of the second half of the year," said Mr Eldaief. "Hopefully we will get better value."

The 500mw plant, which opened in 2003, will also go through a major maintenance programme ahead of the sale, which should also increase the price tag. The maintenance will take 28,000 man hours.

GE Energy is likely to retain Lexicon Partners to run the auction, having appointed the firm to advise on the potential sale last year.

General Electric is one of four companies applying for approval to design atomic reactors for the Government's nuclear plant new-build programme. The others are Areva, the French nuclear giant; Westinghouse, a subsidiary of Toshiba; and Atomic Energy of Canada Ltd.

The Nuclear Installations Inspectorate is expected to trim the shortlist of designs down to three next month and then grant licences to the successful designs within two to three years.

However, Mr Eldaief warned that the whole programme could be delayed should the Government not set out a clear licensing timetable. The first new nuclear power plants are scheduled to be operational by 2016.

Mr Eldaief said that the UK should use work that has already been done by US regulators on reactor designs as part of its own programme. "The UK has the opportunity to leverage its effort," he added. "That could take months, if not more, off licensing approval."

Another potential problem was the labour market, said Mr Eldaief. He said there was a lack of skilled workers in the nuclear market to fulfil world demand.

"The reality is that there are a lot of nuclear plants planned in other parts of the world," he continued. "The biggest challenge will be the supply and availability of components and engineering resources. This is something the UK government needs to be aware of."

Mr Eldaief was made head of GE Energy's UK operations at the end of last year, having been president of the company's Asia Pacific region. He also confirmed that he would pursue an acquisitive strategy: "We are always interested in solid and differentiated technologies."

PROMOTED VIDEO
News
ebooksAn unforgettable anthology of contemporary reportage
Life and Style
Britons buy more than 30 million handsets each year, keeping them for an average of 18 months
tech
Arts and Entertainment
Alloysious Massaquoi, 'G' Hastings and Kayus Bankole of Young Fathers are the surprise winners of this year's Mercury Music Prize
musicThe surprise winners of the Mercury Prize – and a very brief acceptance speech
Arts and Entertainment
TV Presenters Ant McPartlin and Dec Donnelly. Winners of the 'Entertainment Programme' award for 'Ant and Dec's Saturday Night Takeaway'
musicAnt and Dec confirmed as hosts of next year's Brit Awards
Arts and Entertainment
Orson Welles made Citizen Kane at 25, and battled with Hollywood film studios thereafter
film
News
video
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Finance Assistant - Part time - 9 month FTC

£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...

Marketing Manager

£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...

Market Risk Manager - Investment Banking - Mandarin Speaker

£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...

Compensation and Benefits Manager - Brentwood - Circa £60,000

£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...

Day In a Page

Isis in Syria: A general reveals the lack of communication with the US - and his country's awkward relationship with their allies-by-default

A Syrian general speaks

A senior officer of Bashar al-Assad’s regime talks to Robert Fisk about his army’s brutal struggle with Isis, in a dirty war whose challenges include widespread atrocities
‘A bit of a shock...’ Cambridge economist with Glasgow roots becomes Zambia’s acting President

‘A bit of a shock...’ Economist with Glasgow roots becomes Zambia’s acting President

Guy Scott's predecessor, Michael Sata, died in a London hospital this week after a lengthy illness
Fall of the Berlin Wall: History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War

Fall of the Berlin Wall

History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War
How to turn your mobile phone into easy money

Turn your mobile phone into easy money

There are 90 million unused mobiles in the UK, which would be worth £7bn if we cashed them in, says David Crookes
Independent writers remember their Saturday jobs:

Independent writers remember their Saturday jobs

"I have never regarded anything I have done in "the media" as a proper job"
Lyricist Richard Thomas shares his 11-step recipe for creating a hit West End musical

11-step recipe for creating a West End hit

Richard Thomas, the lyricist behind the Jerry Springer and Anna Nicole Smith operas, explains how Bob Dylan, 'Breaking Bad' and even Noam Chomsky inspired his songbook for the new musical 'Made in Dagenham'
Tonke Dragt's The Letter for the King has finally been translated into English ... 50 years on

Buried treasure: The Letter for the King

The coming-of-age tale about a boy and his mission to save a mythical kingdom has sold a million copies since it was written by an eccentric Dutchwoman in 1962. Yet until last year, no one had read it in English
Can instilling a sense of entrepreneurship in pupils have a positive effect on their learning?

The school that means business

Richard Garner heads to Lancashire, where developing the 'dragons' of the future is also helping one community academy to achieve its educational goals
10 best tablets

The world in your pocket: 10 best tablets

They’re thin, they’re light, you can use them for work on the move or keeping entertained
Lutz Pfannenstiel: The goalkeeper who gave up Bayern Munich for the Crazy Gang, Bradford and a whirlwind trawl across continents

Lutz Pfannenstiel interview

The goalkeeper who gave up Bayern Munich for the Crazy Gang, Bradford and a whirlwind trawl across continents
Pete Jenson: Popular Jürgen Klopp can reignite Borussia Dortmund’s season with visit to Bayern Munich

Pete Jenson's a Different League

Popular Klopp can reignite Dortmund’s season with visit to Bayern
John Cantlie video proves that Isis expects victory in Kobani

Cantlie video proves that Isis expects victory in Kobani

The use of the British hostage demonstrates once again the militants' skill and originality in conducting a propaganda war, says Patrick Cockburn
The killer instinct: The man who helps students spot potential murderers

The killer instinct

Phil Chalmers travels the US warning students how to spot possible future murderers, but can his contentious methods really stop the bloodshed?
Clothing the gap: A new exhibition celebrates women who stood apart from the fashion herd

Clothing the gap

A new exhibition celebrates women who stood apart from the fashion herd
Fall of the Berlin Wall: Goodbye to all that - the lost world beyond the Iron Curtain

The Fall of the Berlin Wall

Goodbye to all that - the lost world beyond the Iron Curtain