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Hedge funds to buy EDF’s Eggborough power plant

Reuters UK – Lenders to Eggborough, a large coal-fired power station, have exercised an option to acquire the plant, owner EDF said on Thursday.

The lenders, which include Bluebay’s distressed-debt fund, gained the right to acquire the 1,960 MW station through a restructuring of British Energy, acquired by the French utility at the beginning of 2009.

“EDF confirms that British Energy’s lending banks have exercised their option to acquire the Eggborough coal power station under the restructuring agreements made by the British government in 2005,” EDF unit EDF Energy said in a statement. The news was earlier reported by the Financial Times.

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