SSE Sells GBP350 Million Stake in Walney Offshore Wind Farm to Greencoat
01 September 2020 - 8:56PM
Dow Jones News
By Adria Calatayud
SSE PLC said Tuesday that it has agreed to sell its 25.1% stake
in the Walney wind farm, offshore U.K., to Greencoat UK Wind PLC
for 350 million pounds ($467.9 million)
The FTSE 100 energy company said the deal is part of a program
to sell non-core assets with the intention of generating GBP2
billion by the fall of 2021. Walney--which is operated by
50.1%-owner Oersted AS--falls into that category, SSE said.
SSE said this program will support its GBP7.5 billion five-year
capital expenditure plans to invest in core strategic assets as
part of its transition to net zero emissions.
Greencoat UK Wind, a London-listed renewable infrastructure
fund, separately said Walney is a natural addition to its portfolio
of operating U.K. wind farms and increases its net generating
capacity to over 1 gigawatt for the first time.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
September 01, 2020 06:41 ET (10:41 GMT)
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