UK: SSE sells three wind farms for GBP173.6m in cash

Scottish and Southern Energy (SEE) has sold three of its wind farms for a cash payment of GBP173.6m (US$ 284.1m) to Infinis, a renewable energy company based in the UK, which is owned by the private equity firm Terra Firma. The three wind farms, located in Dumfries and Galloway in Scotland and Northern Ireland, have a combined generating capacity of 96.8MW. An agreement has been reached to allow Infinis to sell power from both Scottish wind farms to a third party and Infinis will sell power from the 30MW wind farm at Slieve Divena in Northern Ireland to SSE via a new power purchase agreement.

Gregor Alexander, SSE finance director, said: “While we are planning long-term growth of our wind energy portfolio throughout the UK and Ireland, we have always said that we will use disposals and acquisitions to optimise our wind farm portfolio, and this sale is consistent with that.

“I believe this is a good deal for SSE and Infinis, two companies with a strong commitment to renewable energy.”

SSE has recently said that it is looking to develop Scotland’s first offshore wind turbine testing facility at Clydeport’s Hunterson site in North Ayrshire. This will be an extension of SSE’s Glasgow-based Centre of Engineering Excellence for Renewable Energy (CEERE). It is expected to be used to develop and test up to three different turbine prototypes, while drawing on partnerships with leading turbine suppliers.