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SSE to Sell its 50% Stake in Braes of Doune Wind Farm

Source: www.gulfoilandgas.com 7/20/2011, Location: Europe

In June 2011, SSE (Scottish and Southern Energy plc) agreed to sell its 50% interest (36MW) in the Braes of Doune onshore wind farm to a fund managed by Climate Change Capital, subject to completion of the remaining steps in the process. Due to financial market conditions, Climate Change Capital has decided to postpone its associated fund raising and so the asset will not be sold to the fund.

Gregor Alexander, Finance Director of SSE, said: "While it is disappointing that the sale of Braes of Doune has not been completed, these things have to be looked at in context. The asset will continue to deliver revenue for SSE and the proposed proceeds were not required to help fund SSE's investment programme."

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