SSE to sell waste-to-energy plant stakes to raise funds for low-carbon energy projects
Share this post
Combustion Industry News Editor
Scottish power company SSE has secured a deal with Australian entity First Sentier Investors to sell the latter 50% stakes in three waste-to-energy plants in West Yorkshire for £995 million (US$1.3 billion/€1.1 billion). The sales are large part of a drive to raise £2 billion in revenue (total sales are now at £1.4 billion) from asset ‘disposals’ which will help fund £7.5 billion in expenditure on low-carbon energy projects over the next five years. Two of the three plants have electrical output capacities of 75 MW each, while the third is under development and is due for completion by 2025. The deal is still subject to antitrust approval from the European Commission.