GE Financial Services acquires Scottish wind farm from SSE

GE Financial Services has announced it has signed an agreement with SSE PLC to acquire the 16 MW Langhope Rig wind farm near Hawick in the Scottish Borders.
GE Financial Services acquires Scottish wind farm from SSE

SSE is one of the largest generators and suppliers of energy in the UK. Langhope Rig is currently nearing construction and consists of 10 GE 1.6 MW wind turbines which GE Energy UK will service under a long-term operations and maintenance agreement. Under the terms of the acquisition agreement, GE Energy Financial Services will own and operate the wind farm once it becomes operational later this year. Langhope Rig is situated approximately 55 miles south of Edinburgh. Its acquisition forms part of GE’s commitment to international expansion, including investment $1 billion annually in renewable energy projects across the globe.

Renewable energy is a core focus area for GE Financial Services which is one of the world’s largest investors in wind power with a portfolio of projects spanning nine countries and a capacity in excess of 14 GW in operation or under construction.

“The Langhope Rig acquisition supports our strategy of investing in high-quality energy assets with experienced partners” said Andrew Marsden, a managing director and European leader at GE Energy Financial Services. “This transaction combines GE’s strengths as a leading supplier of both structured finance and energy technology in an investment underpinned by the UK’s stable wind regime.”

GE Energy Financial Services will honour SSE’s commitments to the existing community investment fund associated with the project.

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