SSE (SSE)

Sector:

Electricity Generation and Distribution

Index:

FTSE 100

1,644.00p
   
  • Change Today:
    -14.00p
  • 52 Week High: 1,900.00
  • 52 Week Low: 1,508.00
  • Currency: UK Pounds
  • Shares Issued: 1,093.43m
  • Volume: 394,705
  • Market Cap: £17,976m
  • RiskGrade: 133

SSE acquires renewable energy development platform from SGRE

By Iain Gilbert

Date: Wednesday 20 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Energy firm SSE has acquired Siemens Gamesa Renewable Energy's existing European renewable energy development platform for €580.0m.







SSE said on Wednesday that the SGRE portfolio included roughly 3.9 gigawatts of onshore wind development projects, around half of which are located in Spain with the remainder across France, Italy, and Greece, with scope for up to 1.0GW of additional co-located solar development opportunities.

The FTSE 100-listed firm will also take on a team of roughly 40 employees when its entry into Southern Europe finalises by the end of September, subject to receipt of relevant foreign direct investment and regulatory approvals.

As part of the transaction, SSE Renewables will also have the opportunity to partner with SGRE on the provision of turbines and associated long-term maintenance services for a portion of wind farms in the portfolio.

SSE Renewables' managing director Stephen Wheeler said: "Mainland Europe is an exciting growth market for onshore wind, with clear carbon reduction targets and supportive policies, and the expert management team will complement our sector-leading capabilities perfectly.

"The project portfolio brings some excellent assets and will provide a real springboard for our expansion plans in Europe across wind, solar, batteries and hydrogen."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Scottish & Southern Market Data

Currency UK Pounds
Share Price 1,644.00p
Change Today -14.00p
% Change -0.84 %
52 Week High 1,900.00
52 Week Low 1,508.00
Volume 394,705
Shares Issued 1,093.43m
Market Cap £17,976m
RiskGrade 133

Scottish & Southern Star Ratings

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Value
34.22% below the market average34.22% below the market average34.22% below the market average34.22% below the market average34.22% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Price Trend
14.97% above the market average14.97% above the market average14.97% above the market average14.97% above the market average14.97% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income Not Available
Growth
74.61% above the market average74.61% above the market average74.61% above the market average74.61% above the market average74.61% above the market average
Sector averageSector averageSector averageSector averageSector average

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