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    SSE   GB0007908733

SSE PLC

(SSE)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/26 11:39:47 am
1540 GBX   +0.20%
01/19SSE : acquires its first 30MW solar project in its role as the UK's clean energy champion
PU
01/18Today on Wall Street: Changes
01/18HSBC Downgrades SSE To Hold From Buy, Lowers PT
MT
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SSE, Equinor Sell 20% Stake in World's Largest Offshore Wind Farm to ENI

11/02/2021 | 05:37am EST

By Joe Hoppe

SSE PLC and Equinor ASA said Tuesday that they will sell a combined 20% stake in offshore wind farm Dogger Bank C to Italian energy company ENI SpA for around 140 million pounds ($191.3 million).

The Scotland-based energy company said that Dogger will be the world's largest offshore wind farm upon completion. It is on track, with the third phase of the project set for financial close by the end of 2021.

SSE and Equinor hold 50% each in the project and are both selling a 10% stake for around GBP70 million each. The transaction is expected to complete in the first quarter of 2022, subject to regulatory approvals.

SSE said its SSE Renewables subsidiary will continue to lead development and construction and Equinor will operate the asset on completion. SSE will use the proceeds to support the delivery of its net zero-carbon strategy.

"The sale of a stake in Dogger Bank C to ENI represents good value for shareholders and will enable us to continue to recycle capital into creating more low-carbon electricity assets," SSE Finance Director Gregor Alexander said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

11-02-21 0637ET

Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. 2.98% 13.484 Delayed Quote.7.15%
EQUINOR ASA 3.40% 258.3 Real-time Quote.5.89%
SSE PLC 0.20% 1540 Delayed Quote.-6.58%
WTI -0.61% 86.792 Delayed Quote.11.70%
All news about SSE PLC
01/19SSE : acquires its first 30MW solar project in its role as the UK's clean energy champion
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01/18Today on Wall Street: Changes
01/18HSBC Downgrades SSE To Hold From Buy, Lowers PT
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01/17SSE : Marubeni-CIP win right to develop giant floating offshore wind farm in ScotWind succ..
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01/17SSE Awarded New Offshore Wind Lease in Scotland, Boosting Renewables
DJ
01/17SSE Consortium Gets Seabed Rights for Up to 2.6-GW Offshore Wind Project in Scotland
MT
01/17Scottish wind sale nets nearly $1 billion with Shell, BP among winners
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01/17Integrated Wind Solutions Begins Development Of Construction Service Operation Vessel
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01/13SSE's UK Gas Storage Site Experiences Fire, Gas Trip
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Analyst Recommendations on SSE PLC
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Financials
Sales 2022 7 224 M 9 718 M 9 718 M
Net income 2022 1 129 M 1 518 M 1 518 M
Net Debt 2022 8 558 M 11 511 M 11 511 M
P/E ratio 2022 17,9x
Yield 2022 5,45%
Capitalization 16 301 M 22 029 M 21 927 M
EV / Sales 2022 3,44x
EV / Sales 2023 3,37x
Nbr of Employees 11 865
Free-Float -
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Technical analysis trends SSE PLC
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 1 540,50 GBX
Average target price 1 771,16 GBX
Spread / Average Target 15,0%
EPS Revisions
Managers and Directors
Alistair Phillips-Davies Chief Executive Officer & Executive Director
Gregor Alexander Finance Director & Executive Director
John Alexander Manzoni Chairman
Sue Bruce Independent Non-Executive Director
Peter John Lynas Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SSE PLC-6.58%21 940
NEXTERA ENERGY-22.19%147 356
DUKE ENERGY CORPORATION-2.81%78 719
ENEL S.P.A.-5.39%76 411
SOUTHERN COMPANY-2.27%71 272
IBERDROLA, S.A.-3.94%69 032