SSE, Zouk to buy 40%-stake each in Anesco

(ADPnews) - Dec 8, 2010 - UK utility Scottish and Southern Energy (LON:SSE) and investment manager Zouk Ventures Ltd agreed last week each one to acquire a 40%-stake in a newly formed energy efficiency firm named Anesco Ltd.

Anesco is designed to provide energy efficiency and carbon reduction services for individuals, local authorities and businesses. The company will offer products such as property insulation, solar photovoltaic, solar thermal and maintenance of microgeneration installations.

The remaining 20%-stake of Anesco after the acquisition will remain in control of its management team, led by chief executive Adrian Pike and COO Tim Payne.

SSE energy supply director Alistair Phillips-Davies said the company has an increasing interest in the energy efficiency and low carbon products sector, which is seen to expand notably in the next ten years. So, the investment in Anesco would facilitate SEE's growth in the sector.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Yurkie Ali
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription