Construction News

14/03/2016

SSE Sells Off Stake In Clyde Wind Farm Project

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%.

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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)

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