U.K. utility SSE has unveiled plans to sell its 50 percent stake in two waste-to-energy assets for £995 million ($1.3 billion) in cash, according to several news reports.
The Multifuel Energy Limited (MEL1) and Multifuel Energy 2 Limited (MEL2) assets are a 50-50 joint venture between SSE and U.S.-based waste-to-energy firm Wheelabrator Technologies. The assets consist of the Ferrybridge Multifuel 1 and Ferrybridge Multifuel 2 facilities (MEL1), as well as the Skelton Grange Multifuel development project (MEL2), located in West Yorkshire, England, according to The Energyst.
First Sentier Investors is buying the stake in the two facilities on behalf of its European Diversified Infrastructure Fund III, which launched in September 2019 with a €3.5 billion ($4.1 billion) fundraising target.
SSE is looking to secure at least £2 billion ($2.6 billion) from disposals by fall 2021. The cash from the disposals will reportedly go toward its £7.5 bi
