Monday 4 February 2019

SSE to sell stakes in two onshore wind farms for £635m

SSE to sell stakes in two onshore wind farms for £635m

SSE has agreed to sell stakes in its Stronelairg and Dunmaglass wind farms in a deal worth £635 million.

The 49.9% interest, which equates to 160.6MW of capacity, is being sold to Greencoat UK Wind as part of the Big Six supplier’s strategy “to create value from development and operation of renewable assets and recycle capital in the right opportunities”.

The Stronelairg wind farm has a total capacity of 228MW and Dunmaglass 94MW - SSE will continue to operate both wind farms.

Gregor Alexander, SSE’s Finance Director said: “Onshore wind makes a huge contribution to supplying low carbon electricity to the GB market and to meeting the UK’s carbon reduction targets. The sale of stakes in these wind farms to Greencoat is a continuation of SSE’s longstanding approach of partnering and securing value for shareholders at appropriate times.”

The deal is expected to be completed by the end of March 2019.

Written by

Bruna Pinhoni

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