The total consideration to shareholders is approximately E1.8 billion, which includes the proceeds from the disposal of Airtricity’s North American business unit.
The combination of Airtricity and Scottish and Southern Energy (SSE) assets brings SSE’s capacity to a total of almost 10,500MW of electricity generation, over 1,900MW of renewable energy and almost 480MW of operating wind energy, making it reportedly the largest wind farm operator in the UK and Ireland.
The expanded portfolio includes onshore wind farms and hydro schemes with full consent or under construction of almost 550MW, a total of 540MW of offshore wind farm developments with consent and an established electricity supply business operating in the all-island market.
Paul Dowling, Airtricity’s CEO, said: This deal with SSE is hugely significant for Airtricity and fundamentally enhances our ability to deliver cost-effective renewables to a wider audience. The core values of Airtricity and SSE are very similar and make it easy to develop and grow Airtricity within the SSE group. Airtricity, as part of SSE, can now accelerate its business plans in Ireland, UK, Europe and China.
