SSE Renewables has formed a new joint ownership company called SSE Pacifico to pursue the development of offshore wind projects in Japan.
The deal includes the acquisition by SSE Renewables of an 80% interest in an offshore wind development platform from Pacifico Energy. The total consideration at closing is $US208million of which $US30million is deferred consideration subject to a number of conditions. SSE Renewables has also confirmed that Mike Seaton, currently Director of Development, will take up the role of CEO of SSE Pacifico, working alongside Executive Vice President and COO Dai Karasawa who joins from Pacifico Energy.
SSE-Pacifico will progress its 10GW portfolio of early stage development opportunities with the most advanced aiming to enter bid rounds before or in the mid-2020s. The new company will continue to collaborate fully and openly with local communities and authorities and aim to provide best-in-class integration of offshore wind farms with the local environment.