SSE has completed the sale of its entire 33.3% stake in gas distribution operator Scotia Gas Networks Ltd to a consortium comprising existing SGN shareholder Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners. With the satisfaction of all necessary regulatory approvals at the start of March, the transaction has now completed for a final consideration of £1,286m in cash.Following the sale of SGN and prior sales of SSE’s GB domestic energy supply business, and its gas production business, the Group’s strategic focus is now firmly on clean electricity infrastructure. Its core businesses are renewables and regulated electricity networks – businesses which have strong, net zero-linked growth potential based on government policy alignment, and common capabilities in the development, construction, operation and financing of world-class, highly technical electricity assets. These core businesses – together with strategically-aligned thermal, customer and trading businesses – provide a compelling ESG-linked growth investment opportunity; an attractive mix of economically-regulated and market-based income streams; and valuable linkages with each other.
SSE has completed the sale of its entire 33.3% stake in gas distribution operator Scotia Gas Networks Ltd to a consortium comprising existing SGN shareholder Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners. With the satisfaction of all necessary regulatory approvals at the start of March, the transaction has now completed for a final consideration of £1,286m in cash.Following the sale of SGN and prior sales of SSE’s GB domestic energy supply business, and its gas production business, the Group’s strategic focus is now firmly on clean electricity infrastructure. Its core businesses are renewables and regulated electricity networks – businesses which have strong, net zero-linked growth potential based on government policy alignment, and common capabilities in the development, construction, operation and financing of world-class, highly technical electricity assets. These core businesses – together with strategically-aligned thermal, customer and trading businesses – provide a compelling ESG-linked growth investment opportunity; an attractive mix of economically-regulated and market-based income streams; and valuable linkages with each other.
