SSE has signed an agreement with GE Capital to sell its 16MW Langhope Rig wind farm, situated near Hawick in the Borders.
The deal will see ownership and operation of the 10 turbine wind farm transferred to GE when construction completes in Spring 2015.
Paul Cooley, SSE Director of Renewables, said: “This agreement with GE represents the latest step in a programme of acquisitions and disposals to optimise our wind farm portfolio and the proceeds from the sale of Langhope Rig will help to support our investment in new renewable assets.”
“Under the agreement, the £5,000-per-MW community investment fund associated with the project will be transferred over to GE’s energy investing unit – GE Energy Financial Services – to manage and is therefore protected for the nearby communities hosting the wind farm.”
General Electric (GE) turbines – with a hub height of 82.5m and a blade length of 40.2m – have been selected for the site.
Andrew Marsden, a managing director and European leader at GE Energy Financial Services, said that the acquisition expands GE’s global presence, grows its international wind portfolio and demonstrates its commitment to supporting customers.
He added: “The Langhope Rig acquisition supports our strategy of investing in high-quality energy assets with experienced partners. This transaction combines GE’s strengths as a leading supplier of both structured finance and energy technology in an investment underpinned by the UK’s stable wind regime.”
Renewable energy is a core focus area for GE Energy Financial Services, one of the world’s biggest investors in wind power, with a portfolio of projects spanning nine countries and a capacity totaling more than 14 gigawatts in operation or under construction.