LONDON, May 25 (Reuters) -
* SSE says to build 350 million pound ($467 million) combined cycle gas turbine (CCGT) power plant in Lincolnshire, northern England.
* The plant in Keadby will have 9000HL turbines made by Siemens , with capacity of 840 megawatts.
* Siemens characterises the HL technology as the next generation of gas turbines with a high level of efficiency.
* Work on the plant is due to begin imminently (spring 2018) but SSE did not say when completion is expected.
* SSE has long planned a second power plant at Keadby, alongside an existing 735 MW CCGT plant.
* The company failed to win capacity agreements for the project in a February auction for supplies in 2021-2022.
* “Alongside wholesale market and ancillary services revenues, capacity market payments remain an important aspect of the economics of Keadby 2, and SSE intends to participate in future auctions to secure a capacity market agreement,” it said on Friday.
* SSE says that 6 billion pounds has been earmarked for capital expenditure and investments over the next five years. Of that, 4 billion pounds will be spent on upgrading electricity networks in Scotland and England, plus renewable energy including offshore wind farms. ($1 = 0.7493 pounds) (Reporting by Sabina Zawadzki Editing by David Goodman)