PERTH-based power company SSE has agreed to sell wind-farm interests in Scotland and Northern Ireland for £140 million to a new fund that plans to float on the London Stock Exchange.
PERTH-based power company SSE has agreed to sell wind-farm interests in Scotland and Northern Ireland for £140 million to a new fund that plans to float on the London Stock Exchange.
contract: SSE agreed in 2011 to sell its 50% interest in the Braes of Doune wind farm. Picture: Getty Images
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ian mcconnell business editor
The proposed sale is dependent on a successful listing and fundraising by wind-farm investment fund Greencoat UK Wind.
SSE will invest up to £43 million of its sale proceeds in this new fund. SSE's investment will be scaled back from £43m if Greencoat UK Wind's fundraising is over-subscribed, but will not fall below £10m.
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