A BUYER for Lynemouth Power Station is expected to be announced by the summer.
Bosses at the Rio Tinto Alcan site said talks are continuing with an interested party over the future of the power station, which employs 120 people.
However, the process is taking time as the power station was built to supply the smelter 40 years ago and if it will sold it will change to a regular facility in the National Grid, requiring different regulations.
Discussions are taking place with the Government, Ofgem and the National Grid to resolve the issue.
Regional Economic Development Director for Lynemouth John McCabe said: “For reasons of commercial sensitivity we are not able to disclose who that third party is, but it is a reputable, sustainable business that is committed to the long-term running of the power station and converting it to a biomass facility.
“The sale is taking a bit longer than we first envisaged, but hopefully by later on this summer we will have some positive news.”