SSE OFFLOADS MEL1 & MEL2

 

Utility firm SSE plc has entered into an agreement to sell its 50% share in waste to energy ventures Multifuel Energy Limited (MEL1) and Multifuel Energy 2 Limited (MEL2) to European Diversified Infrastructure Fund III, an infrastructure fund managed by First Sentier Investors, for a total cash consideration of £995 million.

The company said that the transaction is expected to complete by late 2020 subject to antitrust approval by the European Commission.

MEL1 and MEL2 are 50-50 joint ventures between SSE and Wheelabrator Technologies Inc., consisting of the operational Ferrybridge Multifuel 1 and Ferrybridge Multifuel 2 facilities (MEL1), as well as the Skelton Grange Multifuel development project (MEL2), all in West Yorkshire - link