SSE to Acquire Dunmaglass Wind Farm Project, Invest GBP200 Million

Power supplier SSE PLC (SSE.LN) said Friday that it has reached agreement with Renewable Energy Systems Group to acquire the Dunmaglass wind farm project in Scotland and plans to invest 200 million pounds in the project including acquisition, development and capital costs.


-SSE expects to begin full construction of the wind farm in late 2013 with an expected project completion date of early 2016.

-The expected completion of the project in early 2016 will ensure that it is able to qualify for support through the Renewables Obligation Certificate regime.

-Shares at 0805 GMT, down 3 pence, or 0.19%, at 1,590 pence valuing the company at GBP15.36 billion.