United Kingdom

United Kingdom

SSE sells off Beatrice stake

UK: SSE has sold a portion of its 75% stake in the 750MW Beatrice offshore project to infrastructure investment firm Copenhagen Infrastructure Partners (CIP).

Beatrice will be installed close to SSE's 10MW Beatrice Demonstration site
Beatrice will be installed close to SSE's 10MW Beatrice Demonstration site

SSE will now own a 50% share in the project, with CIP (25%) and Repsol Nuevas Energias UK (25%) holding the remainder.

CIP has provided funding for the 468MW Cape Wind offshore project in the US and owns a 49% share of a 273MW portfolio of projects in the UK, owned by Falck Renewables.

Beatrice survived SSE's review into its involvement in the UK's offshore sector announced in January.

The review was conducted after Beatrice was left off a UK government's "provisionally affordable" list of projects.

However, Beatrice was one of five projects to be awarded an early Contract for Difference (CfD) subsidy by the government.

In March, SSE announced it would be scaling back its involvement in offshore wind. It ended its involvement in the now abandoned 340MW Galloper development. It also put the 690MW Islay project on hold.

Additionally, the company said it will limit its involvement in the consortiums for the 9GW Dogger Bank and the 3.5GW Forth of Firth zones.

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