SSE to sell £635m stake in two Scottish wind farms

Energy firm SSE Greencoat UK Wind in partnership with a pension fund, are to purchase a 49.9% holding in Stronelairg and Dunmglass wind farms, in a deal worth £635m

Energy SSE is to sell two Scottish wind farms to Greencoat UK Wind in partnership with a pension fund, valued at £635m.

SSE will use up to £200m to fund the share buy-back, and the remaining proceeds will reduce the firm’s debt.

Gregor Alexander, SSE finance director said, “Both Stronelairg and Dunmaglass are a testament to SSE’s ability to design, develop, construct and operate first-class renewable energy assets.

“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.”