SSE has now completed the sale of its 50% share in energy-from-waste ventures Multifuel Energy Limited (MEL1) and Multifuel Energy 2 Limited (MEL2) to First Sentier Investors for a total cash consideration of £995m, following antitrust approval from the European Commission.
The sale, which was announced in October 2020 pending approval, consists of the operational Ferrybridge Multifuel 1 and Ferrybridge Multifuel 2 facilities (MEL1), as well as the Skelton Grange Multifuel development project (MEL2), all in West Yorkshire.
This sale is part of SSE’s strategy to secure at least £2bn from the disposal of non-core assets by autumn 2021, with over £1.5bn now achieved. The proceeds will help fund the company’s plans to invest £7.5bn in low-carbon energy infrastructure over the next five years, driving the UK’s transition to a net-zero future.