Business, Politics, and Analysis

search
September 21, 2018 12:00 am | FILED UNDER: business

EPH Power Plant Receives Approval From British Energy Ministry

By ČTK Kretinsky EPH Group

Prague, Sept 21 (CTK) – The British energy ministry has issued a building permit for a new gas-fired power station in Eggborough to British company Eggborough Power Limited from Energeticky a prumyslovy holding (EPH), a Czech energy and industry group of entrepreneur Daniel Kretinsky, Euro weekly said on its website today.

 

The gas-fired power station will be built on the site of the existing Eggborough coal-fired power station in North Yorkshire, according to Euro’s website.

 

Output of the new plant will be up to 2,500 megawatts (MW). The station will be able to supply electricity to roughly two million surrounding households.

 

The installed output of the largest Czech nuclear power plant Temelin is about 2,000 MW.

 

James Crankshaw of EP UK Investments, a part of EPH, said the company is happy to have obtained the building permit allowing it to continue playing its key role in the local economy and national energy supplies.

 

The Eggborough power station has been an important part of the British energy sector for 40 years, Crankshaw said.

 

The new plant’s construction is supposed to start in the middle of 2019.

 

Once the plant is built, it will provide about 70 regular jobs.

 

Eggborough Power Limited has applied for the building permit at the end of May 2017, having made an agreement with self-rule authorities, Euro said.

 

The Eggborough coal-fired power plant, also belonging to EPH, will be shut down this month. The plant has four units with the installed output of 2,000 MW.

 

The plant will be demolished at the turn of this year, Euro said.

 

EPH is a leading Central European energy group which owns and operates facilities in Czechia, Slovakia, Germany, Italy, Britain and Hungary.

 

Kretinsky, who is worth Kc53bn, is the fifth richest Czech, according to Forbes magazine. He became EPH’s majority owner last year, holding 94 percent of its shares. Entrepreneur Patrik Tkac and investors linked to J&T group have left EPH.

 

Last year, EPH’s net profit increased annually by 9.6 percent to some Kc22.5bn, and its consolidated sales went up by 21.8 percent to almost Kc154bn.

%d bloggers like this: