SSE is to sell 49.9% of its interest in the Stronelairg wind farm at Fort Augustus and the Dunmaglass operation near Inverness to help it fund a share buyback scheme and cut some of its debt, which stands at over £9bn ($200). Renewable energy fund Greencoat UK Wind and a pension fund managed by Greencoat Capital are expected to pay £635m ($831m) at the end of March, with SSE stating £12bnm ($262m) will go to the buyback programme and the rest reducing debt. Greencoat will take a 35.5% stake, the pension fund 14.4%. SSE will continue to operate the Scottish wind farms.
SSE is to sell 49.9% of its interest in the Stronelairg wind farm at Fort Augustus and the Dunmaglass operation near Inverness to help it fund a share buyback scheme and cut some of its debt, which stands at over £9bn ($12bn). Renewable energy fund Greencoat UK Wind and a pension fund managed by Greencoat Capital are expected to pay £635m ($831m) at the end of March, with SSE stating £200m ($262m) will go to the buyback programme and the rest reducing debt. Greencoat will take a 35.5% stake, the pension fund 14.4%. SSE will continue to operate the Scottish wind farms.