NEW PARTNER FOR BEATRICE OFFSHORE WIND FARM LTD (BOWL)

6th November 2014

SSE has today agreed to sell a portion of its shareholding in the Beatrice Offshore Wind Farm to fund management company Copenhagen Infrastructure Partners (CIP). The terms of the agreement reflect the costs of developing the project to its current stage. This sale aligns with SSE's strategic review of its offshore wind portfolio in March 2014 and secures an additional strong partner to take the project forward to a Final Investment Decision. After the acquisition, SSE will own a 50% share of the BOWL project, CIP will own 25% with Repsol maintaining its ownership of the remaining 25%.

Brian McFarlane, BOWL Project Director said,"The Beatrice project has continued to make significant progress since our review of offshore development projects in March this year, achieving consent and securing an Investment Contract from the UK Government. Whilst there is still a significant amount of work to be done, this latest milestone allows the project to continue progressing towards a Final Investment Decision in 2016. We will be working closely with Repsol, CIP and our supply chain partners, to further reduce costs and refine the development and construction programme."