Regulatory Story
Go to market news section View chart   Print
Company SSE PLC
TIDM SSE
Headline

Acquisition of Dunmaglass wind farm project

Released 09:00 17-May-2013
Number 9849E09

RNS Number : 9849E
SSE PLC
17 May 2013
 



Acquisition of Dunmaglass wind farm project

SSE plc has reached agreement with Renewable Energy Systems Group (RES) to acquire the Dunmaglass wind farm project, located near Loch Mhor, 25km south of Inverness.

 

The 33 turbine Dunmaglass project received planning consent in December 2010 and off-site pre-construction works have already begun. SSE expects to begin full construction of the wind farm in late 2013 with an expected project completion date of early 2016. Once constructed, the project will have an installed capacity of 99MW.

 

The total investment in the project is expected to be around £200m1 and is consistent with the scale and composition of SSE's planned investment programme to 2015. The expected completion of the project in early 2016 will ensure that it is able to qualify for support through the ROC (Renewables ObligationCertificate) regime.

 

Met mast data for the project and general area has demonstrated that Dunmaglass will benefit from exceptional wind resource, with potential load factors of above 40%.

Projected output from the wind farm is over 350GWh per year.

 

Jim Smith, Managing Director Renewables at SSE, said:

"We have said that we will pursue both acquisitions and disposals in order to optimise our wind farm portfolio in the UK, and this acquisition of Dunmaglass wind farm is completely in line with that objective.

 

"Dunmaglass is a well designed project which benefits from an excellent wind resource compared to typical onshore sites. The construction timetable for the project fits well with our existing development portfolio and will enable us to optimise the use of existing resources and contracts.

"As an established operator and responsible developer of renewable projects in the area, we have a long-standing commitment to the local community and businesses. We intend to honour the commitments already made in connection with this project and ensure that real economic and social benefits flow into the area."

 

1 - Includes acquisition, development and capital costs.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQARMRTMBABMLJ
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Acquisition of Dunmaglass wind farm project - RNS