SSE sells 49.9% stake in Scottish Clyde Wind Farm


SSE sells 49.9% stake in Scottish Clyde Wind Farm

clyde wind farm

 
Greencoat UK Wind Plc (“UKW”) and GMPF & LPFA Infrastructure LLP (“GLIL”) has just signed an agreement with SSE to purchase 49.9% of the 349.6MW Clyde Wind Farm located in South Lanarkshire for £355 million.
 
SSE’s Managing Director, Wholesale, Martin Pibworth 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.”
 
The wind farm is expanding by an additional 171MW (to be operational by June 2017) so the total percentage shared by UKW and GLIL will be roughly 30% with SSE retaining 70% stake of the total wind farm.
 
According to the press release, ‘in addition to completing the construction of the extension, SSE will provide long term management services for the day to day operations of all 522.4MW as well as long term route to market PPA’s. Siemens will provide long term turbine O&M services.’
 
The Clyde Wind Farm extension has the potential to generate £121.1m for the Scottish economy during the construction phase and an additional £20.25m to benefit the community over the lifetime of the project.
 

Posted By Sally on March 15, 2016 | 0 Comment

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