SSE Receives Consent For Ferrybridge Multi-Fuel Project

SSE Generation Ltd, the generation business of SSE PLC (SSE.LN), said Monday that it has received consent from the Department of Energy and Climate Change to develop an up to 108MW multi-fuel project within its existing Ferrybridge coal power station site.

MAIN FACTS:

-The facility will use a range of sustainable fuel sources, including biomass, waste-derived fuels and waste wood, to generate electricity and heat.

-SSE's joint venture with Shanks PLC (SKS.LN) is intended to provide processed waste-derived fuels for use at the facility from nearby Barnsley, Rotherham and Doncaster councils.

-Enabling works are due to begin in early 2012 with the main construction period commencing in October 2012 and a planned project completion date of early 2015.

-The proposal for a multi-fuel plant is not designed to replace the 1,000 megawatts of existing coal capacity closing in 2015 (due to the European Large Combustion Plant Directive - LCPD) and SSE has not yet made a decision on the future main use of Ferrybridge Power Station.

-It will also create 100 full time jobs throughout its operation and its construction will create 300 jobs on site over the next 3 years.

-SSE Shares at 0940 GMT up 2 pence, or 0.2%, at 135 pence, valuing the company at GBP12.61 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [e-mail]