PERTH (SCOTLAND) (dpa-AFX) - SSE Renewables (SSE.L), on Wednesday, announced that it has entered into an agreement with Siemens Gamesa Renewable Energy or SGRE to acquire its existing European renewable energy development platform for a consideration of €580 million.
The SGRE portfolio includes c.3.9GW of onshore wind development projects - around half of which is located in Spain with the remainder across France, Italy and Greece - with scope for up to 1GW of additional co-located solar development opportunities. SSE will also take on a team of around 40 employees with vast experience in the sector.
The transaction is likely to complete by the end of September 2022, subject to receipt of relevant foreign direct investment and regulatory approvals.
SSE Renewables further stated that it is aiming to have around 500MW of renewable projects from the SGRE portfolio operational by March 2026, with a further at least 500MW in construction.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
