The British group SSE Renewables and Siemens Gamesa Renewable Energy have reached an agreement whereby the Scottish company will acquire all the  Spanish company's onshore wind platform assets in Europe. These consist of 3.9 gigawatts in projects at different stages of development, and to which an extra gigawatt of solar energy can be added by hybridisation in the same locations across Spain, France, Italy and Greece.

The transaction price has been set at EUR 580 million, and 40 experienced wind power employees will keep their jobs. The transaction is expected to be closed in September, after passing the review by the regulatory authority. That date will mark the official entry of SSE Renewables into Southern Europe.

Balanced portfolio
Approximately half of the capacity of the portfolio acquired is in Spain, where last year SSE reached an agreement with Acciona to explore the future offshore wind market. This initiative is compatible with the recent purchase and is part of the British company's objective to develop a balanced portfolio of wind, solar, battery and hydrogen energy assets.

To develop the new assets, many of which are still at an early stage, the company will retain the Siemens Gamesa teams that initiated them. The aim is to reach 500 megawatts in operation by March 2026, as part of the brand new European portfolio, and with at least another 500 megawatts still under construction.

Expansion plans in Europe
SSE Renewables CEO, Stephen Wheeler, said, “Mainland Europe is an exciting growth market for onshore wind, with clear carbon reduction targets and supportive policies, whilst the expert management team will complement our sector-leading capabilities perfectly. The project portfolio brings some excellent assets and will provide a real springboard for our expansion plans in Europe across wind, solar, batteries and hydrogen.

Siemens Gamesa CEO, Jochen Eickholt, explained, "Today's announcement reflects Siemens Gamesa's ability to optimise our asset portfolio and generate maximum value. Over the years, our wind farm development team in Southern Europe has been able to develop an excellent portfolio of wind projects in four countries, as demonstrated by the strong interest generated in the market for this portfolio; we are confident that SSE is the right partner to develop these projects and integrate the staff at Siemens Gamesa.”

Doubling its renewables portfolio
SSE Renewables has to its credit the development and operation of four gigawatts of renewable assets in the UK and Ireland, including two gigawatts of onshore wind energy. It is currently the company that is building the most offshore wind capacity in the world. Among other projects, it is leading the construction of the world's largest wind farm, Dogger Bank, with 3,600 megawatts.

SSE Group has an ambitious £12.5 billion investment plan to be realised by 2026. It aims to double its renewable portfolio to eight gigawatts by then, and to have at least 15 gigawatts of renewable projects under development. By 2030, the company aims to reach 13 gigawatts in operation, and to reach an output of 50 terawatt hours per year by 2031.

^{Photo: Siemens Gamesa}