Equinor and SSE Thermal to buy Triton Power and introduce hydrogen at Saltend

• 2 years ago (2022-06-29)
• David Flin

Europe 1068 Gas 379 Hydrogen 56

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Equinor and SSE Thermal have announced their intention to buy Triton Power from Energy Capital Partners (ECP) and are starting preparations to use hydrogen in Triton’s Saltend Power Station in the UK.

The 1.2 GW CCGT Saltend Power Station currently uses natural gas. Equinor and SSE Thermal are preparing the plant to use up to 30 per cent hydrogen by 2027, with an ambition to increase to 100 per cent. The hydrogen would come from Equinor’s H2H Saltend hydrogen project, which will reform natural gas into hydrogen and use carbon capture and storage to capture 95 per cent of the generated CO2.

Equinor and SSE Thermal will acquire Triton Power for a total of £341 million. Once the transaction is complete, Equinor and SSE Thermal will own Triton Power through a 50:50 joint venture. The deal is expected to close in September, subject to approval from the UK National Security Filing and EU Merger Control.