Sse Share Discussion Threads

[waldron] 20/4/2022 06:29

SSE PLC said Tuesday that it is acquiring a portfolio of renewable-energy projects in Spain, France, Italy and Greece from Spain-based engineering group Siemens Gamesa Renewable Energy SA for 580 million euros ($625.7 million).

The U.K. energy group said the deal includes 3.9 gigawatts of onshore wind projects, around half of which is in Spain, with scope for up to 1 gigawatt of co-located solar development opportunities.

This acquisition marks SSE's entry into Southern Europe. The Perth-based company's renewable projects have so far been only in the U.K. and Ireland.

"Mainland Europe is an exciting growth market for onshore wind, with clear carbon reduction targets and supportive policies, whilst the expert management team will complement our sector-leading capabilities perfectly," Stephen Wheeler, managing director of SSE Renewables, said.

SSE said it aims to have around 500 megawatts from the SGRE portfolio operational by March 2026, with a further at least 500 megawatts in construction.

The deal is expected to be completed by the end of September 2022, the company said.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

April 20, 2022 01:53 ET (05:53 GMT)

[bountyhunter] 20/4/2022 06:05

Good news to be expanding in onshore wind energy. Despite the re-based dividend I think SSE have got their long term strategy right. SSE must be a possible target for the likes of BP and SHELL given their impressive green credentials.

RNS Number : 6654I

SSE PLC

20 April 2022

SSE acquires European onshore wind platform from Siemens Gamesa Renewable Energy

-- Transaction marks SSE's entry into Southern Europe and brings a c.3.9GW portfolio of onshore wind development projects across Spain, France, Italy and Greece.

-- Builds platform for SSE's growth in Europe where it aims to progress a balanced portfolio of assets across wind, solar, batteries and hydrogen technologies.

SSE Renewables has entered into an agreement with Siemens Gamesa Renewable Energy (SGRE) to acquire its existing European renewable energy development platform for a consideration of EUR580m[1]...

[marktime1231] 19/4/2022 19:53

Siemens Gamesa reporting SSE in talks to buy a large pan-European portfolio of onshore wind farms ...

[marktime1231] 15/4/2022 16:12

Despite the so-called energy crisis and light winds I have noticed the UK in the last couple of days, for the first time ever, has been a sustained net energy exporter to our European neighbours. A consequence of the long weekend, warm weather, and for now I am assuming we have gas to burn. Anything we can do to help disconnect Putin is a plus.

Looking to hydrogen for future energy security first requires a surplus of renewable power most of the time, which is still years away. I think SSE owns and operates the local onshore wind farm. We have got to start somewhere and it is pleasing that SSE is getting stuck in. Another demonstrator in a relatively remote community, whereas to succeed we need to produce hydrogen co-located with intense industrial energy demand and thermal power generation. This is another step closer.

[pierre oreilly] 11/4/2022 20:36

Fred, I think you are incorrectly relating various financial effects to generation technology efficacy instead of the correct link to the amount of subsidy.The high level of subsidy of terribly inefficient intermittent technologies is one reason of our rapidly increasing electricity bills. Bills will come under control in a couple of decades when we again have substantive dispatchable generation.

[frederickbloggs] 11/4/2022 15:31

Maybe. I seem to recall Centrica have never managed to sell their minority stake in the UK's existing nuke fleet. Despite trying to sell for longer than I can remember.

[wad collector] 11/4/2022 13:11

I suspect SSE would only sup with a very long spoon in the nuclear direction, can't imagine they would be directly building them .As you say , a high risk investment , though the subsidies that will go with the new plans will have to be very enticing, so maybe won't turn out to he that risky after all to the providers.

[frederickbloggs] 11/4/2022 11:39

Well anything is better than Chinese or Russian nukes. I am pro nuke for base load power generation. But nobody made money building or running nukes. I am mostly in SSE for the renewables portfolio. I can't see shareholders approving billions of new investment in nukes. I wouldn't support it, 100%.

[wad collector] 11/4/2022 09:46

Fred Bloggs, at least it would be better than more invites to the Chinese to build our Nuclear Power , and definitely better than some Russian help....

[jrphoenixw2] 09/4/2022 20:00

Skinny: 'And again @1,807.50p'

And another record I/D hi on Thu/7th at 1825.5p - before a lower hi on Friday at 1822.5p.

Just for the record.

[skinny] 09/4/2022 08:16

Quite possibly - new territory that's for sure.

[frederickbloggs] 09/4/2022 08:13

If SSE show any inclination towards being involved in nuclear plants, I will sell. Nobody has ever built nuclear plants to budget and cost. (Exception is Barakah in UAE built by South Koreans but I doubt the UK would go that route).

[frederickbloggs] 09/4/2022 08:10

Next stop here, 2000p?

[pierre oreilly] 07/4/2022 10:50

I hope sse join a consortium building the new nukes now planned.

While windmills are flavour of the month now, when the current batch reach the end of life in 20 years I doubt they'll be replaced with the lower or zero subsidies then on offer.

But the going is good atm and for several more years with windmills (unfortunately imv).

[wad collector] 07/4/2022 09:01

This morning's announcement of the Governments energy supply plan looks good for SSE in easing permissions for offshore windfarms and also some rather unspecified encouragement for onshore.

[skinny] 06/4/2022 11:24

And again @1,807.50p

[wad collector] 06/4/2022 11:07

Marktime , I don't think the Gordonbush hydrogen generation plant is any more than a dip into the concept and a bit of a virtue signal rather than a serious long term plan. It seems a good play given the subsidies that are going to flow into hydrogen, even if it cannot really pay for itself at present.
And yet another ATH. The trader in me wants to sell a few but it seems such a good hold if we ignore the distant renationalisation risks.

[bountyhunter] 05/4/2022 17:56

Yes another new ATH @1797!
I nearly sold these a while back but very glad I didn't, SSE's focus on renewables has turned out to be very well timed.

[marktime1231] 05/4/2022 17:19

I do not understand the logic of building a hydrogen generation plant in a remote community where there is unlikely to be primary demand. Or is this such a small scale it is just to supply the locals? 8 tonnes a day would supply a village?

Much easier to "ship" the electricity and produce the hydrogen where it is needed for immediate power generation or grid injection.

[jrphoenixw2] 05/4/2022 16:57

In something of a repeat of my previous^

Another record, not only up +3.5%/day but powering up into the close to finish at 1797.00; both it's record COB price, but also it's record intra-day price too.

I also note the UK's delayed government Energy Security Strategy is finally due for release on Thursday. One to watch.

[skinny] 31/3/2022 12:50

Another new ATH earlier @1764.50p

.

[jrphoenixw2] 30/3/2022 21:04

Agreed Wad,
I nearly over-looked it at first, until I realised there weren't any results until 25th May so was curious re: why the closed period. Imagine my surprise to find it wasn't that at all! They still list it as such on their website...

ps Another record, not only up +2.5%/day but powering up into the close to finish as it's intra-day high. It's looking good.