Monday 10 November 2014

SSE sells stake in 664MW offshore wind project

Power supplier SSE has agreed to sell a portion of its shares in a proposed offshore wind project in Scotland’s outer Moray Firth.

Fund management company Copenhagen Infrastructure Partners (CIP) now owns 25% of the 664MW Beatrice Offshore Wind Farm Limited (BOWL), reducing SSE’s ownership stake to 50%.

The remaining share is owned by Respol.

Brian McFarlane, BOWL Project Director said: “Whilst there is still a significant amount of work to be done, this latest milestone allows the project to continue progressing towards a Final Investment Decision in 2016.

“We will be working closely with Repsol, CIP and our supply chain partners, to further reduce costs and refine the development and construction programme.”

SSE said it would possibly make a final investment decision on the Beatrice project in 2016.