Build Scotland Construction Directory
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
14/03/2016

SSE Sells Off Stake In Clyde Wind Farm Project

Construction News Image
SEE has announced the sale of its stake in the Clyde Wind Farm project in South Lanarkshire.

The energy firm sold its 49.9% share of the scheme to Greencoat UK Wind Plc (UKW) and GMPF & LPFA Infrastructure LLP (GLIL) for £355 million.

When the 172.8MW extension to Clyde is commissioned (currently under construction, completion expected in June 2017) the equity stake jointly owned by UKW and GLIL will be diluted to 30%, with SSE retaining 70%.

-- Advertisement --
NorthernAsbestosServicesLtd

SSE will also provide long term management services for the wind farms day to day operations after it completes construction on the projects 54-turbine extension.

The Clyde Wind farm is one of Europe's largest, with 152 turbines and a total capacity of 350MW. Overall, it can power more than 300,000 homes.

Martin Pibworth, SSE's MD of Wholesale, said: "We are pleased to confirm the sale of a stake in our flagship Clyde wind farm to UKW and GLIL. The sale represents another significant step in a programme of disposals to recycle capital and optimise our wind farm pipeline. The proceeds from this disposal will help to support our future investments in a balanced range of energy assets."

(LM/MH)

Latest Construction News

03/05/2024

The Wheatley Group has been given planning permission from Glasgow City Council to convert the 1930s B-listed Bellgrove Hotel into 14 modern, energy-efficient and affordable flats – eight of which will be wheelchair accessible. Permission has also been granted for a further 56 flats to be built on ...
03/05/2024

Renewable energy leader Drax has announced that it will invest £80 million in a major refurbishment of its iconic 'Hollow Mountain' Cruachan pumped storage hydro power station in Scotland. Global hydropower technology supplier ANDRITZ has been appointed as the main contractor for the Cruachan ...
03/05/2024

Clark Contracts has welcomed the news that the former Dalmarnock Purifier Studios, now branded as EastWorks, has been awarded the Refurbished/Recycled workplace award at the prestigious British Council for Offices (BCO) Awards 2024. The 120-year-old former purifier shed, owned by Clyde Gateway, ...
03/05/2024

Stirling Council has launched a public consultation to shape future developments at the Viewforth and Burghmuir Road areas. The new draft framework and planning brief for Viewforth and Burghmuir covers a key area of the city centre that includes the Viewforth site, existing council buildings, ...
03/05/2024

Morrison Community Care (CCG) Holdco has secured planning permission or its latest project in South Queensferry, marking its third consecutive success. Forming part of a wider 44-hectare masterplan that will include 980 new homes, a primary school and commercial premises on Builyon Road, south of ...
03/05/2024

The Highland Council's Economy and Infrastructure Committee have carried out a review of the last two years of the Community Regeneration Funding Programme, ahead of agreeing changes to how the 2024/25 programme will be delivered. Committee Chair, Cllr Ken Gowans said: "Following a successful two ...
03/05/2024

Perth and Kinross Council and partners are set to progress community-led projects aimed at revitalising homes and improving rural transport links, following a winning bid for Innovate UK Pathfinder Places funding. Funding of £150,000 has been secured following a successful Phase 1 Pathfinder ...
03/05/2024

SGN engineers working on the H100 Fife project have helped support the Methilhill Community Children's Initiative (MCCI) by building an eco-toilet in the charity's learning garden. MCCI provides a safe and engaging space for local children to participate in various outdoor activities, including ...
03/05/2024

SNIPEF, the Scottish and Northern Ireland Plumbing Employers' Federation, has published a draft of its 2024 election manifesto detailing six strategic policy proposals designed to support its members and the broader plumbing and heating profession. Once finalised, the manifesto will be central to ...
03/05/2024

The Scottish Environment Protection Agency (SEPA) have published their 2024-25 Annual Operating Plan, detailing how they will protect and improve Scotland's environment over the next 12 months. The publication follows the launch of a new Corporate Plan at the end of March, which set out the ...
Morris & Spottiswood LtdRBT Underfloor LimitedMaterials Market LtdToner Damp Proofing SuppliesNo HydroBurnside Plant Hire LtdKattrak International Hidromek SalesScotdeck LtdThe Big Block Co LtdSafe Access (Highland) Ltd.
Terms and Conditions
2024/05/06 06:14:36