SSE Fully Acquires Seagreen Wind Energy for GBP118 Million
September 25 2018 - 1:57AM
Dow Jones News
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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