SSE Ventures partners with new SEP fund

RNS Number : 2105V

SSE PLC

09 January 2012

 



SSE VENTURES TRANSFERS CLEANTECH INVESTMENTS

INTO NEW £95 MILLION GREEN ENERGY FUND

SSE, through its wholly owned SSE Ventures business, has completed a deal with Scottish Equity Partners (SEP) that involves SEP's new Environmental Energies Fund (EEF) acquiring a portfolio of cleantech investments owned by SSE Ventures.  As part of the deal, SSE Ventures has become a major partner in the new fund.

The new Environmental Energies Fund (EEF) has acquired nine investments from the SSE Ventures portfolio, all of which are market leaders from across the clean energy spectrum. The fund will have substantial fresh capital available for investment in the portfolio and also has agreement to add up to five further SSE investments to the portfolio in future.  

SSE's Finance Director, Gregor Alexander, said: "SEP have a strong track record in helping innovative companies grow and mature. By moving our cleantech investments into the Environmental Energies Fund we can ensure the companies are able to benefit from the track record and expertise of SEP, draw upon the financial resources of the new partners and ultimately deliver a better return on our initial investment.

"We continue to believe that cleantech companies have an important role to play in developing new technologies and that is why we continue to be involved as a major partner in the EEF."

SEP Managing Partner, Calum Paterson said:  "We are excited by the opportunity that this partnership with SSE brings and pleased to have secured such blue chip investor backing for the fund.  Energy-related technology investments have always been an area of strong interest for us and there will be synergies between our involvement with the new secondary fund and SEP's standalone primary investment activity."

 

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