Seabank Power operates the 1140 MW combined-cycle gas turbine (CCGT) Seabank power plant located near Bristol in the UK. The transaction is expected to complete in second quarter 2010.

Seabank power station is owned and operated by Seabank Power – a 50:50 joint venture between BG Group and Scottish and Southern Energy (SSE). Phase 1 of Seabank (760MW) entered the full commercial operation in 2000 and Phase 2 (380MW) in 2001. All of the plant capacity is sold under contract to SSE.

The consideration US currency is dependent on exchange rates at the time the transaction completes, the company said.

BG Group is an integrated oil and gas company having headquarters in Reading, Berkshire, England.