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Airtricity Announces Sale to SSE

The board of Airtricity Holdings Limited announced that an agreement has been reached to sell Airtricity to Scottish and Southern Energy Plc (SSE). The board of believes that this transaction will offer value to all shareholders and ensures continued investment in the growth and development of the company under the custodianship of SSE.

The sale represents an equity value of approximately €1.1 billion. As part of the transaction SSE will assume liabilities of €375 million. The purchase price will include payment for the proceeds from the recent Airtricity North America divestiture of approximately €0.8 billion. The combined purchase price, including the North American transaction net of transaction costs and other adjustments is approximately €1.8 billion. Shareholders representing in excess of 80% of the voting shares of Airtricity have approved the transaction.

"Investment opportunities in renewable energy will become increasingly important as the world becomes more carbon constrained and the EU becomes more concerned about energy security," said Ian Marchant, CEO of SSE. "I believe the combination of SSE's and Airtricity's interests in renewable energy will provide an excellent platform for future growth, which will be made much more achievable by combining SSE's financial strength with Airtricity's outstanding ability in project development."


First Anniversary of The Balkan Floods Highlights Renewable Energy Market Opportunities

Ilias Tsagas, Contributor One year ago this month, severe flooding in Serbia, Bosnia-Herzegovina and Croatia killed 79 people, displaced about half a million and caused economic paralysis of the region. In the wake of these the catastrophic events, ...
Canadian Climate Goals

Canada Announces Weak Climate Target

Danielle Droitsch, NRDC Last week, Canada has announced its contribution to the global effort to reduce greenhouse gases by announcing its post-2020 target. The target announced today is off-track to the 80 percent cut by 2050 they committed to in...
Wind turbine

Forget the PTC, Wind Energy’s Real Problem Is Transmission

Adam Barber, A Word About Wind

Forget the challenges associated with government tax credits.  Do you want to know the real barrier for future North American wind market growth?

Rooftop Solar Panels

Hypocrisy? While Buffett Champions Renewables, His Company Fights Rooftop Solar

Mark Chediak, Noah Buhayar and Margaret Newkirk, Bloomberg Warren Buffett highlights how his Berkshire Hathaway Inc. utilities make massive investments in renewable energy. Meanwhile, in Nevada, the company is fighting a plan that would encourage more residents to use green power.


Volume 18, Issue 3


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