SSE plc is selling a 49.9% stake in its wind farms Stronelairg and Dunmaglass to Greencoat UK Wind Plc for £635M, the Scottish company announced on Friday. The stakes are equivalent to 160.6MW of capacity, with an average valuation for the two wind farms of around £4m per MW.
"Onshore wind makes a huge contribution to supplying low carbon electricity to the GB market and to meeting the UK’s carbon reduction targets. The sale of stakes in these wind farms to Greencoat is a continuation of SSE’s longstanding approach of partnering and securing value for shareholders at appropriate times," Gregor Alexander, SSE's finance director said in a statement.
SSE will continue to operate both wind farms.
