Power company SSE fails to sell wind farm near Stirling
- 20 July 2011
- From the section Scotland business
The energy firm, SSE (Scottish and Southern Energy) has announced that the sale of its Braes of Doune wind farm near Stirling has fallen through.
The company had agreed to sell its 50% interest in the wind farm to a fund managed by Climate Change Capital for £61.3m.
However due to market conditions the fund has decided not to raise the money to buy the farm.
The Braes of Doune wind farm has 36 turbines and was opened four years ago.
Gregor Alexander, finance director of SSE, said: "While it is disappointing that the sale of Braes of Doune has not been completed, these things have to be looked at in context.
"The asset will continue to deliver revenue for SSE and the proposed proceeds were not required to help fund SSE's investment programme."