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SSE sells 50% Doune wind farm stake

Scottish and Southern Energy (SSE) will sell its 50% interest (36 MW) in the Braes of Doune onshore wind farm, Scotland, to a Climate Change Capital-managed fund for an overall cash consideration of £61.3 million.

By Renewable Energy Focus

In April 2011, SSE sold its 100% interest in three onshore wind farms with an overall capacity of 96.8 MW, to Infinis for a cash consideration of £178.4m. A third party buys the electricity from Braes of Doune.

Following the sale to the fund managed by Climate Change Capital, SSE’s operational onshore wind farm capacity will be 775 MW. The company additionally has 12 onshore wind farms, with an overall capacity of 714 MW, under construction in Scotland, Northern Ireland and the Republic of Ireland.

It is expected that the disposal, subject to the completion of the remaining steps in the process, would be complete in few weeks.

SSE Finance Director, Gregor Alexander, says: "This agreement represents the latest step in a programme of acquisitions and disposals to optimise our wind farm portfolio. The proceeds from disposals such as this will support our plans to invest around £1.7 billion in the current year, in line with our commitment to financial discipline. As a result of our investment, we are on course to add to our operating wind farm capacity in the course of this financial year and beyond.”

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