SSE to buy Irish street lighting business

16th Oct 2009 10:29

Scottish and Southern Energy has agreed to buy the assets of ESB Contracts (ESBC), the street lighting business of Dublin-based ESB, for €6.4m in cash.The acquisition is due to complete on 30 November 2009. ESBC currently maintains around 300,000 street lights in the Republic of Ireland, and its assets include vehicles and stock. SSE and ESB will also enter into an agreement under which ESB will provide transitional services to ensure continuity of service. These relate to issues such as IT systems, property and vehicles. The group said ESBC employees will have the option to transfer to the new company. 'It is just two years since we set out our goal to extend SSE's activities beyond the Great Britain market and into Ireland and the acquisition of this street lighting business adds to the step-by-step progress we have already made in electricity generation and energy supply,' said chief executive Ian Marchant.'The key task now is to make sure that the street lighting service we deliver to local authorities and the communities they serve continues to be of the highest possible standard.'