Scottish & Southern Energy PLC
05 May 2006
SSE INVESTS IN MICRO GENERATION
Scottish and Southern Energy plc (SSE) has invested £3.125m to increase its
stakes in Renewable Devices Swift Turbines Ltd and Solar Century Holdings Ltd.
It has invested £1.125m to increase its stake in Edinburgh-based Swift Turbines
to 10% of the share capital, with options over a further 20%, and £2.0m to
increase its stake in London-based solarcentury to 13.3% of the share capital.
Swift Turbines has developed what is believed to be the world's first feasible
rooftop-mountable wind energy system and London-based solarcentury is the
largest independent solar photovoltaics company in the UK.
In addition to its investments, SSE is working with both companies to market the
provision and installation of the technologies to an increasing number of
customers in the UK.
Budget 2006 stated that micro generation technologies 'have the potential to
contribute towards both improved energy security and lower carbon emissions' and
contained measures to stimulate demand for them. In its submission to the
government's review of energy policy, SSE stated that 'a key way of reducing the
demand for energy from the national electricity and gas grids is to ensure that
buildings connected to them contain the means to produce at least some of the
energy that their occupants need'.
Ian Marchant, Chief Executive of SSE, said: 'The way we produce energy is going
to change. Developments in technology have made it possible for even individual
households and small businesses to generate their own electricity and heat by
the use of micro generation technologies.
We anticipated this change with our earlier investments in micro generation.
Working with Swift Turbines and solarcentury over the past 18 months has
underlined our belief that these technologies will play a growing part in
meeting energy needs in the future and prompted this additional investment.'
Enquiries to:
Scottish and Southern Energy
Alan Young, Director of Corporate Communications 0870 900 0410
Denis Kerby, Corporate Communications 0870 900 0410
This information is provided by RNS
The company news service from the London Stock Exchange
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