Germany's RWE said it had agreed to buy a 1.4-gigawatt (GW) gas-fired power plant from Sweden's Vattenfall (VATN.UL) in a deal valuing assets at 500 million euros ($534 million). The deal is expected to close by the end of the third quarter, it added, adding that the deal also covers a 5.6 megawatt solar park.
RWE says there will be "all-round benefits" from sharing local infrastructure. Adding capacity to gas-fired plants has been part of RWE's growth strategy, and the company is now one of Europe's largest renewable energy companies, and says it needs more capacity to transition to solar and wind.