Ownership of the Killingholme plant has changed twice since 1994
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A power station in North East Lincolnshire has been sold in a £142m deal.
British Gas owner Centrica announced on Tuesday that it has acquired Killingholme station near Grimsby.
The site, which employs 62 staff, has been managed by creditor banks after a fall in electricity prices.
Killingholme was bought by US energy company NRG in 2000 for £390m, having been previously owned by National Power.