Fortum, the Finnish energy group, has confirmed that it is selling its peat-fired plant currently under construction in Edenderry, Co Offaly. The sale is part of a decision by the company to sell all its electricity generation assets in the Republic and the UK.

The company owns 100 per cent of the £120 million (€152 million) plant. It owns or part-owns two gas-fired plants in the north of England and has a 75 per cent share in a combined heat and power plant under construction in Scotland.