SSE's finance director Gregor Alexander told investors this morning that "despite the best efforts of ourselves and others" the cost of offshore wind construction has not got down to a level that the group finds acceptable as an investment risk.

The utility said it will continue to invest in Beatrice “for the rest of this calendar year” but plans to reduce its stake in the 750MW project to no more than 50%, while delivering the EPC support needed to keep it on course for a final investment decision in 2016.

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