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SSE to sell stake in Clyde Windfarm to Greencoat and GLIL

Published 02 August 2017

SSE has agreed to sell further 5% stake in the Scotland based Clyde Windfarm to Greencoat UK Wind (UKW) and GLIL Infrastructure (GLIL) for £67.8m.

The sale will boost the share of UKW and GLIL in the Clyde Windfarm to 35%. Around 26.1MW will be jointly owned by both the firms.

SSE initially sold 49.9% stake in the current 349.6MW Clyde operational wind farm in March 2016, during which an agreement was signed for the reduction in the stake of UKW and GLIL to 30%, when the commercial operation of the 172.8MW extension will commence.

Between 1 April 2018 and 30 June 2018, UKW and GLIL have an option to acquire further 14.9% of Clyde for £202.2m, which is equivalent to 77.8MW.

The Clyde windfarm, which is situated in South Lanarkshire, and the original wind farm will have 152 Siemens 2.3MW turbines and a combined capacity of 349.6 MW.

The Clyde Extension has a capacity to generate 172.8 MW with its 54 Siemens 3.2 MW turbines.

SSE managing director wholesale Martin Pibworth said: “Both the original Clyde wind farm 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.”