Home Employment SSE’s Belfast-based onshore wind firm reviews £ 85m in pre-tax earnings

SSE’s Belfast-based onshore wind firm reviews £ 85m in pre-tax earnings

SSE's Belfast-based onshore wind company reports £ 85m in pre-tax profits

THE Belfast-registered holding firm for the onshore wind vitality actions of the electrical energy large SSE has posted pre-tax earnings of £ 85 million for the 2020-21 monetary yr.

SSE Renewables Onshore Windfarm Holdings is integrated in Millennium Home on Nice Victoria Road in Belfast and acts because the holding firm for the group’s wind farms, that are primarily situated in Northern Eire and Scotland.

It at the moment owns the Bessy Bell wind farms close to Omagh and Tievenameenta close to Killeter, close to the Tyrone-Donegal border. It additionally owns the most important wind farm within the north, Slieve Kirk, which is situated close to Limavady.

The corporate has made monumental earnings lately by promoting wind farms in Scotland and Co. Tyrone.

Final yr, after promoting a part of the Slieve Divena wind farm to Greencoat UK in February 2020 for £ 51m, the corporate reported a pre-tax revenue of £ 150.6m.

The eight wind generators are situated subsequent to Tyrone GAA’s headquarters in Garvaghey, close to Ballygawley.

The London-listed renewable infrastructure fund acquired 12 generators within the first section of the Slieve Divena undertaking in 2017 as a part of a £ 105 million deal that included an offshore wind farm close to Liverpool.

SSE Onshore Windfarm Holdings posted a pre-tax revenue of £ 543.6m in 2019 following the sale of stakes in three Scottish wind farms.

The final accounts filed with Corporations Home are for the yr ending March 31, 2021.

It reveals that SSE’s onshore wind enterprise paid a dividend of £ 78.4 million to its mother or father firm SSE Renewables Restricted.

Following the 2020-21 reporting interval, the northern provide regulator introduced that summer time 2021 was one of many mildest for wind since 1961.

Electrical energy era from wind fell by 62 p.c in July 2021.

It was listed as an element that led to a rise in home electrical energy tariffs through the yr as suppliers relied on fossil fuels.

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