2nd Jan 2008 07:00
Scottish & Southern Energy PLC02 January 2008 SCOTTISH AND SOUTHERN ENERGY PLC ACQUISITION OF SLOUGH HEAT AND POWER COMPLETED Scottish and Southern Energy plc ("SSE") has completed the acquisition of SloughHeat and Power Ltd from SEGRO plc for a total cash consideration of £49.25m. Slough Heat and Power is an integrated energy business, which includes acombined heat and power (CHP) plant with potential generating capacity of 101MW.The CHP plant is the UK's largest dedicated biomass energy facility and its mainsources of fuel are wood chips, biomass and waste paper. The site has its ownfibre fuel processing plant, which takes delivery of waste paper products andconverts these into useable fuel. Part of the plant is contracted under the Non Fossil Fuel Obligation and part ofit produces over 200GWH of output qualifying for Renewable ObligationCertificates (ROCs), which is equivalent to around 90MW of wind generation. Around 140 employees are joining SSE as a result of the acquisition. Ian Marchant, Chief Executive of SSE, said: "I am very pleased to have completedthis acquisition. While all of the assets at Slough are important, I amparticularly pleased that SSE now owns and operates the UK's largest dedicatedbiomass energy facility. As well as reinforcing our position as the UK's leadinggenerator of electricity from renewable sources, this will give us a platformfrom which to build up our interests in biomass and waste-to-energy, areas whichwe believe will become increasingly important over the next decade." - ends - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SSE