SSE kicks off $2.6bn asset disposal with UK offshore wind stake sale
Utility agrees deal for quarter share in Walney project as first step sale spree to fund future low-carbon growth
UK utility SSE has agreed to sell its quarter-stake in the 367MW Walney wind farm off England’s northwest coast as it begins a £2bn ($2.6bn) asset sell-off to help fund its renewable growth ambitions.
SSE will sell its 25.1% non-operating share for £350m to infrastructure fund Greencoat UK Wind.
The sale marks the first stage in SSE’s plans to dispose of £2bn worth of non-core assets. The utility will have 3.9GW of renewable generation capacity in its portfolio following the stake sale in Walney, which was commissioned early in the last decade.