Forth Energy, a joint venture between SSE and Forth Ports, has scrapped its plans to develop three major biomass projects worth £1.1bn ($1.83bn) in Scotland, UK.
However, the company is looking for other developers to take the biomass projects forward that were earlier proposed at Grangemouth and Rosyth.
Forth Energy said that it was withdrawing from the projects as SSE moved away from renewable energy projects.
Forth Energy is a joint venture between Perth-based SSE and Forth Ports.
Both the projects were expected to generate a combined capacity of 300MW of electricity and 260MW of heat and create 500 jobs during the construction stage.
The £325m investment in the Rosyth biomass project, which was approved by the Scottish government in January 2014, was expected to create hundreds of jobs in the region.
The company has canceled its proposal to build the biomass plant at the Port of Dundee following an objection from the city council.
Forth Energy's plan to build a fourth renewable energy plant at Leith had been canceled in 2012.
According to the opponents of the company's proposals, the biomass projects could result in more climate change, deforestation and pollution in the region.