SSE lifts earnings forecast after £202m windfarm stake sale
SSE said it had sold a 10% stake in the first two phases of Dogger Bank Wind Farm to Eni for £202.5m as it lifted guidance for the 2020/21 fiscal year.
The company on Friday said it earnings per share would now be in a range of 85p – 90p, up from previous guidance of 75p – 85p including an EPS impact from the gain on sale of around 19 pence
It added that the proceeds of the sale would enable delivery of its low carbon growth plans. Once the transaction is complete early next year, SSE will hold 40% in the two wind farms, with Equinor holding 40% and Eni 20%.
“Consistent with the range provided in November, this assumes normal weather conditions for the remainder of the year and an impact from coronavirus towards the middle of the £150m to £250m range set out in June 2020,” SSE said in a statement.