Simon Bain
Business Correspondent/Personal Finance Editor
SSE has decided to mothball a third of the natural gas withdrawal capacity
at its Hornsea gas storage facility due to poor returns.
Hornsea, located in east Yorkshire, accounts for about five per cent of the
total gas storage capacity in the UK, and 10 per cent of deliverability.
SNIP
The group also announced it has signed an agreement with GE Capital to sell
the Langhope Rig wind farm near Hawick in the Scottish Borders. The deal
will see ownership and operation of the 10 turbine 16-megawatt site
transferred to GE when construction completes within a few weeks.
Paul Cooley, SSE’s director of renewables said it was the latest step in a
programme of acquisitions and disposals to optimise the wind farm
portfolio. The proceeds from the sale of Langhope Rig would help to support
investment in new renewable assets.
Under the agreement, the £5,000-per-megawatt community investment fund
associated with the project will be transferred over to GE to manage and is
therefore protected for the nearby communities hosting the wind farm.
Earlier this week it emerged that Longannet power station faces earlier
than expected closure due to the award to SSE’s Peterhead gas power station
of a contract from National Grid.
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