SSE has entered an agreement to sell a stake in Clyde windfarm to Greencoat UK Wind (UKW) and GLIL Infrastructure (GLIL) for a cash consideration of £67.8m.
Last year, SSE sold a 49.9% share in the 349.6MW Clyde windfarm to UKW and GLIL. As per the latest agreement, UKW and GLIL will purchase a further 5%, which is equivalent to 26.1MW. This deal will take both UKW and GLIL’s stake in the total Clyde development to 35%.
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Both UKW and GLIL will also have an option to buy a further 14.9% of shares for £202.2m. This option can be exercised between 1 April 2018 and 30 June 2018. If applied, SSE’s shares will reduce to 50.1%, while UKW and GLIL will own the remaining 49.9%.
SSE Wholesale managing director Martin Pibworth said: “Both the original Clyde windfarm and the recent extension are complex projects, requiring major investment and a great deal of effort to deliver such efficient assets that make a huge contribution to supplying electricity and reducing carbon emissions across the GB market.
“The sale of a further stake in Clyde to UKW and GLIL is a natural step in our partnership with them and our commitment to recycle capital where we can see value for SSE.”
See Also:
Situated in Scotland, the Clyde windfarm is equipped with 152 Siemens 2.3MW turbines and has a generating capacity of 349.6MW.
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By GlobalDataThe Clyde Extension features 54 Siemens 3.2MW turbines capable of generating a total energy of 172.8MW.
Image: Clyde windfarm in Scotland, UK. Photo: courtesy of SSE.
