SSE in £390m Irish swoop

By DOMINIC JEFF
Published on 15/06/2012 21:00

UTILITY giant SSE has consolidated its position in Ireland after spending £390 million to acquire four power stations and other assets from indebted Italian utility Enel.

The acquisition of Endesa Ireland follows last month’s purchase of the gas supply business of Phoenix Energy. SSE, which has owned the Airtricity wind power business since 2008, will become Ireland’s third-largest energy supplier.

SSE will also invest £100m to complete construction of a new 460 megawatt combined cycle gas turbine (CCGT) at Great Island in Co Wexford.

About 110 employees will transfer to SSE as a result of the deal, with several hundred new jobs set to be created in both construction work and SSE’s Irish operations.

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SSE in £390m Irish swoop

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