SSE sell Walney stake for £350m

SSE has agreed to sell its 25.1 per cent stake in Walney offshore wind farm stake to Greencoat Capital. The firm will pay £350m for 92MW.

“Walney has been a good financial investment for SSE but we see it as a non-core asset as we are not the principal operator,” said SSE finance director Gregor Alexander.

SSE set out plans in June to disposed of £2bn of non-core assets. It will use the money to build out other wind projects as part of a £7.5bn investment plan. These include Dogger Bank and Seagreen offshore, and the Viking project onshore, where it is the principal developer.