5th May 2006 09:27
Scottish & Southern Energy PLC05 May 2006 SSE INVESTS IN MICRO GENERATION Scottish and Southern Energy plc (SSE) has invested £3.125m to increase itsstakes in Renewable Devices Swift Turbines Ltd and Solar Century Holdings Ltd. It has invested £1.125m to increase its stake in Edinburgh-based Swift Turbinesto 10% of the share capital, with options over a further 20%, and £2.0m toincrease its stake in London-based solarcentury to 13.3% of the share capital. Swift Turbines has developed what is believed to be the world's first feasiblerooftop-mountable wind energy system and London-based solarcentury is thelargest independent solar photovoltaics company in the UK. In addition to its investments, SSE is working with both companies to market theprovision and installation of the technologies to an increasing number ofcustomers in the UK. Budget 2006 stated that micro generation technologies 'have the potential tocontribute towards both improved energy security and lower carbon emissions' andcontained measures to stimulate demand for them. In its submission to thegovernment's review of energy policy, SSE stated that 'a key way of reducing thedemand for energy from the national electricity and gas grids is to ensure thatbuildings connected to them contain the means to produce at least some of theenergy that their occupants need'. Ian Marchant, Chief Executive of SSE, said: "The way we produce energy is goingto change. Developments in technology have made it possible for even individualhouseholds and small businesses to generate their own electricity and heat bythe use of micro generation technologies. We anticipated this change with our earlier investments in micro generation.Working with Swift Turbines and solarcentury over the past 18 months hasunderlined our belief that these technologies will play a growing part inmeeting energy needs in the future and prompted this additional investment." Enquiries to: Scottish and Southern EnergyAlan Young, Director of Corporate Communications 0870 900 0410Denis Kerby, Corporate Communications 0870 900 0410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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