SSE Renewables secures £400 million loan

SSE Renewables has secured a loan of £400 million from the European Investment Bank (EIB) to invest in renewable energy projects in the UK and Ireland. The new loan brings the total amount of loans the company has received to £3.8 billion.

“We are in the middle of a five year programme to invest around £3 billion in renewable energy. The EIB funding will support our well-financed investment programme and help deliver assets which are needed to help meet EU, UK, and Irish renewable energy targets,” said Finance Director Gregor Alexander.

SSE recently took over marine energy sites off the Scottish coast from the Crown Estate capable of generating 800 MW, which it will develop with partners Aquamarine Power and OpenHydro. SSE has also won a share of the 9 GW Dogger Bank offshore wind zone.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02042010/sse_renewables_secures_%C2%A3400_million_loan/