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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SSE plc    SSE   GB0007908733

SSE PLC

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SSE, Equinor Sell 20% Stake in Dogger Bank A and B to Eni

12/04/2020 | 02:37am EST

By Jaime Llinares Taboada

SSE PLC said Friday that ENI SpA has agreed to acquire a 20% stake in the Dogger Bank A and B wind farm project owned by SSE and Equinor ASA.

The FTSE 100 energy company said it has sold a 10% interest to Eni for an equity consideration of 202.5 million pounds ($272.4 million). The Italian group has also entered into an agreement with Equinor to purchase an additional 10%. As a result, Eni will secure a 20% stake in the project, and both SSE and Norway's Equinor will retain a 40% interest each.

The transaction doesn't affect ownership of Dogger Bank C, where both SSE and Equinor continue to have a 50% interest.

SSE and Equinor said on Nov. 26 that they had reached financial close for Dogger Bank A and B. The project, located off the northeastern coast of England, is expected to become the largest offshore wind farm in the world when completed in 2026.

SSE said that it intends to use the proceeds to fund its low-carbon growth plans. As a result of the disposal, the British group has raised its earnings-per-share guidance for the current fiscal year to 85 pence-90 pence from the previous 75 pence-85 pence range.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

12-04-20 0236ET

Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. -0.33% 8.827 Delayed Quote.3.60%
EQUINOR ASA 1.20% 169 Real-time Quote.15.21%
SSE PLC -0.78% 1517 Delayed Quote.1.93%
WTI 1.24% 52.931 Delayed Quote.8.19%
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Financials
Sales 2021 6 937 M 9 445 M 9 445 M
Net income 2021 844 M 1 149 M 1 149 M
Net Debt 2021 9 321 M 12 690 M 12 690 M
P/E ratio 2021 19,6x
Yield 2021 5,31%
Capitalization 15 817 M 21 471 M 21 536 M
EV / Sales 2021 3,62x
EV / Sales 2022 3,56x
Nbr of Employees 11 676
Free-Float 99,1%
Chart SSE PLC
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SSE plc Technical Analysis Chart | SSE | GB0007908733 | MarketScreener
Technical analysis trends SSE PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 1 586,24 GBX
Last Close Price 1 529,00 GBX
Spread / Highest target 21,0%
Spread / Average Target 3,74%
Spread / Lowest Target -21,8%
EPS Revisions
Managers and Directors
NameTitle
Alistair Phillips-Davies Chief Executive Officer & Executive Director
Richard D. Gillingwater Chairman
Gregor Alexander Finance Director & Executive Director
Martin Pibworth Director & Director-Group Energy & Commercial
Sue Bruce Independent Non-Executive Director
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