SSE pulls out of nuclear venture to go green

23rd Sep 2011 11:29

Scottish and Southern Energy (SSE) has dropped out of a joint venture with fellow power companies GDF Suez and Iberdrola to develop a nuclear power station to focus on renewable energy.SSE has confirmed that it will sell its 25% stake in NuGeneration, which was set up to develop proposals for a power station near Sellafield, West Cumbria."SSE has concluded that, for the time being, its resources are better deployed on business activities and technologies where it has the greatest knowledge and experience," the company said. SSE's director for generation and supply Alistair Philips-Davies said: ""The UK will need both nuclear and renewable energy in the future, but we have made it clear from the start of our involvement in NuGen that for SSE our core investment in generation should be in renewable energy. "At the same time, it made sense to be part of NuGen to help establish whether some participation in new nuclear power stations would be the right thing for SSE, given we have no experience of ownership or operations in the nuclear sector."---RG