By Carlo Martuscelli

SSE PLC (SSE.LN) said Tuesday that it will acquire the 50% of Seagreen Wind Energy Limited that it doesn't already own, buying the outstanding stake for 118 million pounds ($154.7 million).

It will acquire the company from Fluor Ltd., exercising its pre-emption right, the FTSE 100-listed energy company said.

SSE said the acquisition takes its total offshore wind portfolio to around 4 gigawatts.

The company reiterated the guidance it set out earlier in the month.

A combination of higher commodity prices, and relatively dry weather has hurt profit, as a result, the company expects that adjusted operating profit for the six months to Sept. 30 will be about half the GBP586 million reported in the previous-year period.

It expects to recommend a full-year dividend of 97.5 pence a share for fiscal 2019.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

September 25, 2018 02:42 ET (06:42 GMT)

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