SSE has agreed to sell a 25% portion of its shareholding in the 664 MW Beatrice offshore wind farm to fund management company Copenhagen Infrastructure Partners (CIP).
After the acquisition, SSE will still own a 50% share of the Scottish offshore wind project, with Repsol maintaining its ownership of the remaining 25%. SSE says the sale to CIP secures an additional strong partner to move the project closer to fruition.
‘The Beatrice project has continued to make significant progress since our review of offshore development projects in March this year, achieving consent and securing an investment contract from the U.K. government," notes Brian McFarlane, the BeatriceÂ project director.
"Whilst there is still a significant amount of work to be done, this latest milestone allows the project to continue progressing toward a final investment decision in 2016. We will be working closely with Repsol, CIP and our supply chain partners to further reduce costs and refine the development and construction program.’