Scottish & Southern Energy PLC
30 October 2006
INVESTMENT IN ENERGY TECHNOLOGIES INSTITUTE
Scottish and Southern Energy plc ('SSE') has agreed to become a partner in the
new Energy Technologies Institute, the details of which have been announced by
the Chancellor of the Exchequer. It will provide the Institute with up to £2.5m
a year for five years.
The Institute's remit is to accelerate the development of secure, reliable and
cost-effective low-carbon energy technologies towards commercial deployment. The
Government has committed to provide 50% of the core funding of the Institute,
with the balance being received from private sector investment. Its
establishment is intended to secure a significant increase in investment on
energy research and development in the UK.
The Chancellor of the Exchequer, the Rt Hon Gordon Brown MP, said:
'I am delighted that SSE will be the first Scottish-based company to invest in
the new Institute. I welcome the important role which it will play in the
Institute in supporting the identification of key energy technology solutions.'
Ian Marchant, Chief Executive of SSE, said:
'I believe that the new Institute will help to transform the UK's energy
technology research and will help to speed up the development and deployment of
cost-effective and low carbon energy technologies. In this area, the interests
of the UK and SSE clearly coincide: we need to identify new means of producing
energy which will help to secure reliable and lower carbon supplies of energy.
The launch of the Institute therefore marks a very positive step forward.'
Enquiries to:
Scottish and Southern Energy
Alan Young, Director of Corporate Communications 0870 900 0410
Denis Kerby, Investor and Media Relations Manager 0870 900 0410
This information is provided by RNS
The company news service from the London Stock Exchange
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