Thumbs-up for £1bn new SSE green bond to pay for wind farm projects

Turbines arriving at Clyde Extension wind farm site
Turbines arriving at Clyde Extension wind farm site

A new £1.1 billion green bond to help SSE finance various wind turbine farm developments in Scotland and Ireland has been given the thumbs-up by external independent risk assessors.

The overarching principle behind the criteria –  that a green bond should “enable capital-raising and investment for new and existing projects with environmental benefits” – has been verified by DNV-GL.

SSE’s Green Bond Framework defines eligible green projects as projects that fall into the following categories: renewable energy production: windfarms: onshore windfarms; offshore equity investments  and renewable energy transmission cables and infrastructure.

The Perth-based Big Six energy provider wants to raise cash to pay for current and/or future developments at the following wind farms it is building and/or has recently completed;

  • Strathy North (67MW)
  • Tievenameenta (35MW)
  • Slieve Divena 2 (19MW)
  • Galway (64MW)
  • Dunmaglass (94MW)

Projects under construction (to be finalised in the next 24 months)

  • Bhlaraidh (108MW)
  • Leanamore (18MW)
  • Clyde Extension (173MW)
  • Stronelairg (225MW)

Douglas Farquhar, Principal Consultant, DNV GL, said: The main selection criteria for a project to be eligible is that it must contribute to a positive environmental impact, supports SSE’s commitment to the ongoing reduction of the carbon intensity of its electricity generation and supports Sustainable Development Goal 13 Climate Action by generating electricity from low and renewable carbon sources.”

29 Aug 2017

Pixie Energy

Pixie logo Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy here.

Local Energy Matters: Scotland

Local Energy Matters: Scotland is a free-to-download brochure with a focus on energy tariffs in the two Scottish electricity distribution regions, as well news on local energy and low-carbon schemes.

Previous editions can be download here.

Scottish energy market overview

You can read an overview of the Scottish energy market here.

Scottish Government energy feed