SSE Renewables has entered into an agreement with Siemens Gamesa Renewable Energy (SGRE) to acquire a 3.9 GW portfolio of onshore wind projects across Spain, France, Italy and Greece for a consideration of €580m. The projects, with around half of which are located in Spain, include scope for up to 1 GW of additional co-located solar development opportunities. The transaction is likely to complete by the end of September 2022, subject to receipt of relevant foreign direct investment and regulatory approvals.
Under SSE Group’s Net Zero Acceleration Programme (NZAP), the group targets 4 GW of net additions over 5 years, doubling its installed renewable capacity to 8 GW (net) by 2026. SSE aims to deliver at least 1 GW/year of net capacity additions between 2026 and 2031, to reach 13 GW net and 50 TWh/year of renewable power generation by 2031.
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