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SSE increases shareholding in Wind Towers Ltd

3rd August 2012

UK utility SSE has announced that it acquire from Marsh Wind Technology Ltd its 40.05% share in Wind Towers Ltd, this will increase SSE’s total shareholding in Wind Towers Ltd to 80.1%. The remaining 19.9% of ordinary share capital is held by Highlands and Islands Enterprise and the transaction is expected to be fully completed by the end of August.

Wind Towers Ltd is a joint venture which was set up in February 2011 to purchase the Skykon wind turbine tower manufacturing and assembly plant at Machrihanish, Campbeltown. The firm has pursued many market opportunities and successfully secured a number orders, they have recently expanded their facilities at which they will also begin production of turbine towers for offshore wind farms, enabling them to participate in the next phase of offshore wind developments.

Jim McPhillimy, SSE’s Managing Director, Group Services, said in an official statement:
“A robust and sustainable supply chain offers significant value to renewable energy developers in Scotland. We recognise that SSE has an important role in helping create this and that is why we have entered into a range of strategic alliances and investments to secure this supply chain for Scotland. Wind Towers Ltd is an important link in that chain and its strategic importance to SSE is reflected in our decision to increase our share in the joint venture.”

Douglas Cowan, HIE’s Area Manager for Argyll and the Islands, said in an official statement:
“Investments made in developing the infrastructure, combined with the skills of the local workforce and its experience in the marketplace, means the Machrihanish facility is winning orders and attracting market interest. As the UK’s largest generator of electricity from renewable sources, SSE can continue to support the growth of Wind Towers Ltd’s and its place in the renewable energy supply chain.”