Shares in Scottish & Southern Energy (SSE) were up on the FTSE 100 in afternoon trading after the energy company said it would be selling three of its wind farms.
SSE said it would be selling the Dalswinton and Minsca wind farms in Scotland and the Slieve Divena wind farm in Northern Ireland for a total of £173.6 million to Infinis, which is owned by Terra Firma.
The wind farms have a total maximum capacity of 96.8 megawatts. Electricity generated by the Scottish farms will be sold to a third party, while energy from the Slieve Divena will be sold to SSE through a power purchase agreement.
Gregor Alexander, Finance Director of SSE, said, "While we are planning long-term growth of our wind energy portfolio throughout the UK and Ireland, we have always said that we will use disposals and acquisitions to optimise our wind farm portfolio, and this sale is consistent with that. I believe this is a good deal for SSE and Infinis, two companies with a strong commitment to renewable energy."
By 14:30 shares in SSE were up 0.23 per cent on the FTSE 100 to 1,319.00 pence per share.