SSE joint-venture wind farm receives development consent
Galloper offshore wind farm, the 50:50 joint venture between FTSE 100-listed renewable electricity and gas supplier SSE and RWE npower renewables, has received development consent from the Secretary of State for Energy and Climate Change, an update issued by SSE on Friday has disclosed.
Galloper offshore wind farm, the 50:50 joint venture between FTSE 100-listed renewable electricity and gas supplier SSE and RWE npower renewables, has received development consent from the Secretary of State for Energy and Climate Change, an update issued by SSE on Friday has disclosed.
The Galloper site is located 27km off the Suffolk coast, adjacent to the fully operational Greater Gabbard offshore wind farm, and has a potential capacity of up to 504 megawatts, according to SSE.
Jim Smith, Managing Director of Renewables at SSE, commented: "We very much welcome this decision which provides important reassurance about DECC's[the Department for Energy and Climate Change]commitment to offshore wind."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
He added: "As well as having the potential to generate significant amounts of renewable energy, Galloper is a major infrastructure project that will bring investment and jobs into the UK."
SSE's share price was down 0.86% to 1,610p at 13:50 on Friday.
MF
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Revolut finally bags a UK banking licence – what's next for the fintech?
Revolut has finally been granted a UK banking licence following three years of negotiations with the regulator
By Kalpana Fitzpatrick Published
-
Could Labour impose a “double death tax” of more than 50%?
Speculation is mounting that capital gains tax will be reformed in the Budget - and one option is to charge bereaved families the tax on top of inheritance tax. We explain how it could work
By Ruth Emery Published