Scottish & Southern Energy PLC
28 October 2004
SCOTTISH AND SOUTHERN ENERGY INVESTS IN ROOFTOP WIND ENERGY SYSTEM
Scottish and Southern Energy plc ('SSE') has entered into an agreement under
which it expects to acquire, over a 30 month period, 20% of the share capital of
Renewable Devices Swift Turbines Ltd (previously named Renewable Devices Ltd),
for a total cash consideration of £293,000.
Renewable Devices Swift Turbines is an Edinburgh-based technology company which
was founded in 2002. It has developed what is believed to be the world's first
feasible rooftop-mountable wind energy system, which is designed to be quiet
running, planning-compliant and capable of delivering significant amounts of
energy to businesses, offices and homes. It is estimated that around one quarter
of all the UK emissions of CO2 and greenhouse gasses comes from household use of
fossil fuels and the technology incorporated in the Swift Rooftop Wind Energy
SystemTM assists in reducing these emissions by generating electricity on-site.
There are Clear Skies and SCHRI grant schemes available to assist customers
wishing to install small-scale renewable energy technologies such as Swift wind
turbines.
Under the agreement, SSE and Renewable Devices Swift Turbines will work in
partnership to manufacture, market and install the Swift Rooftop Wind Energy
SystemTM to gas and electricity customers throughout the UK. SSE expects to
place around 2,000 orders for the system, worth up to a total of £9m, over three
years. The joint project therefore represents a multi-million pound investment
by SSE which will enable them to take this innovative new technology to the
market in conjunction with Renewable Devices Swift Turbines. The Swift augments
existing electricity systems, is rooftop-mounted and not space-intensive, is
simple to install, demands no user-management and should be available at a
fraction of the costs of existing comparable systems. A typical device should
provide about 30% of the electricity needs of a typical semi-detached house,
reducing carbon dioxide emissions by around 1.8 tonnes per annum.
Ian Marchant, Chief Executive of SSE, said: 'SSE is by some distance the UK's
largest generator of electricity from renewable sources, and I am delighted that
this partnership with Renewable Devices Swift Turbines will enable us to provide
small-scale renewable devices to energy customers throughout the country.
While the product will be of interest to customers who are particularly
interested in environmental issues, it should, in the future, also provide
ongoing cost savings for all customers. It will give us an opportunity to build
longer-term partnerships with energy customers within the context of a
developing energy services market in the UK. We expect to begin marketing an
expanded range of energy services, including rooftop turbines, in the course of
2005.'
Dr David Anderson, a Director of Renewable Devices Swift Turbines said: 'We are
delighted to be working with Scottish and Southern Energy on this exciting
micro-generation project. Combining with SSE's expertise as the UK's largest
renewable energy company will enable us to bring this exciting and innovative
wind energy product to the market. This is a wonderful example of one of
Scotland's largest companies working together with an innovative, emerging
business. It is clear that the wind turbines delivered by this joint project
will be good for the environment, good for the economy and good for electricity
users.'
For further information please contact:
Scottish and Southern Energy Tel : 0870 900 0410
Alan Young - Director of Corporate Communications
Julian Reeves - Communications Manager
This information is provided by RNS
The company news service from the London Stock Exchange
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