Case Study: Sale of 124 MW GE 6FA CCGT Facility from Administration
Client: Ernst & Young as receivers
Asset: 124 MW combined-cycle power station
Location: Cardenden, Fife, Scotland
Scope: Valuation, sale memorandum, controlled marketing and transaction support
Appointment: 2003
Sale completed: 2004
Deal Value: £12.3 million
Following the appointment of receivers to Fife Power, CESS was instructed to value the operating plant and support a sale process. The station included a GE Frame 6FA gas turbine, NEM HRSG and 58 MW Ansaldo steam turbine.
The assignment required review of the principal equipment and support systems, preparation of sale information with Ernst & Young and PB Power, management of bidder questions and coordination of a structured bid process. Technical diligence included the operating and maintenance position, contractual arrangements and the history of repaired steam-system issues.
CESS supported negotiations with Scottish and Southern Energy as preferred bidder and assisted the parties through the commercial and operational transition.
Outcome: Scottish and Southern Energy acquired the plant in 2004 for a reported £12.3 million. The case demonstrates CESS’s role in combining equipment valuation with an instructed sale process in a receivership context.