close
Share with your friends

Administrators appointed to Calon Energy Limited

Administrators appointed to Calon Energy Limited

Jim Tucker and David Pike from KPMG’s Restructuring practice were appointed Joint Administrators of Calon Energy Limited (“CEL”) today, 24 June 2020.

1000

Also on home.kpmg

CEL is the holding company of the Calon Energy Group, a leading Independent Power Producer (IPP) in the UK, with a 2.3 GW Combined Cycle Gas Turbine (CCGT) portfolio operating across three sites:

  • Severn Power Station, Newport, South Wales (850 MW);
  • Sutton Bridge Power Station, Sutton Bridge, Lincolnshire, England (850 MW);
  • Baglan Bay Power Station, Port Talbot, South Wales (582 MW).

Headquartered at Severn Power Station, the Group employs approximately 111 staff. It also holds the relevant consents to construct a new CCGT at Willington Development Site in Derbyshire, England.

The operating companies below CEL, which own and operate the Severn, Sutton Bridge and Baglan Bay power stations, are not in any insolvency process and continue to trade under the control of their respective directors and management teams. All members of staff remain employed and will continue to be paid as normal.

Jim Tucker, restructuring partner at KPMG and joint administrator, said: “Although we have been appointed administrators over the Topco to the group, the group’s power stations continue to operate as normal, outside any insolvency process, under the control of their directors. We will be working with the directors and senior management in the coming months to develop a new business plan for the power stations, before finalising the timeline to commence a sales process.”

-ends-

For further information, please contact:

Katy Broomhead, Senior PR Manager

Tel: 0161 264 4623 / 07824 537963

Email: katy.broomhead@kpmg.co.uk

KPMG Press Office: 020 7694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 17,600 partners and staff.  The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019. KPMG is a global network of professional firms providing Audit, Tax, Legal and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

© 2020 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal