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Major gas-fired plant secures funding

Energy secretary Ed Davey has revealed that funding has been secured for a new 800 MW UK gas-fired powered station, the first of a possible 20 gas-fired powered stations planned by the government.

Carrington Power announced it had reached financial close with a consortium of international banks to project finance a new combined cycle gas turbine (CCGT) power plant on the outskirts of Manchester, which would generate enough electricity to meet the needs of one million homes.

Mr Davey recently revealed government plans for a fleet of 20 new fossil fuel power stations. According to the energy secretary, the plans would not discourage investment in renewable energy.

He also announced that the government is planning to add 20 GW of electricity generation capacity from gas between now and 2020.

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