Energy company SSE have agreed the sale of an additional stake in the South Lanarkshire based Clyde Windfarm to Greencoat UK Wind Plc (UKW) and GLIL Infrastructure LLP (GLIL).
In addition to the 30% already held by UKW and GLIL, the utility company has agreed to sell a further 5% at a cost of £67.8m.
Yet there is the option on the table for a possible other 14.9%, selling for £202.2m, which would take UKW and GLIL’s combined share to 49.9% with SEE retaining 50.1%.
Back in March 2016, as SSE declared the initial sale of Clyde equating to the 49.9% of the existing 349.6MW operational wind farm, it was stated at the time that the launch of the commercial operation would dilute GLIL and UKW’s stake down to 30% as the 172.8MW extension programme got underway.
Martin Pibworth, SSE’s Managing Director Wholesale, 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.”