SSE Renewables buys rights to 134-MW German wind portfolio

The renewables arm of UK utility SSE plc (LON:SSE) said today it has acquired the land and development rights to a 134-MW portfolio of onshore wind projects in Germany.

SSE Renewables has purchased the rights from Andorra-headquartered infrastructure, energy and agricultural project investor Holt Holding SA Ltd. The financial terms of the deal were not disclosed in the press release.

The specific portfolio consists of five projects, which SSE Renewables expects when permitted to be eligible to compete for 20-year fixed-price contracts in domestic onshore wind tenders. Its addition to the UK firm’s assets is in line with its ambitions to grow its portfolio so that its annual renewables output trebles to 30 TWh.

“Whilst a small investment compared to our significant offshore wind pipeline, this first step will help provide more detailed insight into an adjacent market with significant growth potential,” said managing director Jim Smith.

At present, SSE Renewables owns almost 2 GW of onshore wind assets in the UK and Ireland and has a development pipeline of over 1 GW in those two countries.

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