- Power utility SSE said it had agreed to sell its 25.1% stake in the 367 megawatt Walney offshore wind farm to Greencoat UK Wind for £350m.

SSE said the sale marked the first stage of a plan stated in June to dispose of £2bn of assets by the autumn of 2021.

'As previously announced, a significant part of the disposal programme will be non-core assets,' the company said.

'As essentially a financial investment, Walney clearly falls into this category.'

Walney is located off the coast of Cumbria in the Irish Sea and is 50.1%-owned by Danish group Orsted.

Greencoat UK Wind said it would fund the purchase through its acquisition facility, which was recently resized to £400m.

At 1:15pm: [LON:SSE] Sse PLC share price was -4p at 1255p

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