Deal makes SSE leading light in Ireland

Published on Friday 16 October 2009 21:29

UTILITY giant Scottish & Southern Energy has continued its push into Ireland, buying a company that manages 300,000 street lights.

Best known as Britain's second-largest provider of gas and electricity, SSE is already a major street light contractor in its home market, maintaining a network of more than a million lamps in the UK. The business employs more than 800 people.

Yesterday's deal will give it a leading position in the Irish market, after it bought Dublin-based ESB for 6.4 million (6m).

Perth-based SSE made a move outside the UK a priority two years ago.

The expansion began in earnest with its 1.1 billion acquisition of Irish group Airtricity, a leading wind-farm specialist, in early 2008.

As well as expanding the Scots firm's renewables business, the Airtricity deal gave SSE a foothold into the Irish retail market, where it now has more than 100,000 customers.

Some 100 ESB employees are now in negotiations over transferring to SSE, with the business set to be renamed Airtricity Utility Solutions.

SSE chief executive Ian Marchant said the acquisition of the street lighting business "adds to the step-by-step progress we have already made in electricity generation and energy supply (in Ireland]".

Shares in SSE closed down 13p at 1,067p.