Wholly-owned SSE subsidiary SSE Ventures has completed a deal with Scottish Equity Partners (SEP).
SEP's new Environmental Energies Fund (EEF) has acquired 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.
Under the deal, the new Environmental Energies Fund (EEF) has acquired nine investments from the SSE Ventures portfolio. 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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
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."
The share price rose 0.31% to 1,289p by 14:49.
NR
-
Buying a property is cheaper than renting again – how much could you save?News Zoopla research shows it is now 8% cheaper to buy than rent. We reveal the places where you can save more by getting on the property ladder.
-
Is now a good time to invest in India?Should you invest in India? Its market has stood out of the emerging market pack, helped by a growing pool of domestic investors.
