SSE has agreed to acquire from Marsh Wind Technology Ltd its 40.05% share in Wind Towers Ltd, taking SSE’s total shareholding in Wind Towers Ltd to 80.1% The remaining 19.9% of ordinary share capital is held by Highlands and Islands Enterprise. The transaction is expected to be fully completed in the next couple of weeks.
Wind Towers Ltd (“WTL”) is a joint venture established in February 2011 to purchase the Skykon wind turbine tower manufacturing and assembly plant at Machrihanish, Campbeltown. WTL commenced tower manufacturing at the Machrihanish site in August 2011. Since then the company has realigned production and expanded its facilities. WTL has aggressively pursued market opportunities and has been successful in securing orders from a number of different clients. In addition to producing wind turbine towers for onshore wind farms, the site is now well placed to begin production of turbine towers for offshore wind farms, which will enable WTL to participate in the next phase of offshore wind developments.
The senior management team based at the plant will not change following this announcement and total employment at the facility is expected to remain around 100.
Jim McPhillimy, SSE’s Managing Director, Group Services, said:
“A robust and sustainable supply chain offers significant value to renewable energy developers in Scotland. We recognise that SSE has an important role in helping create this and that is why we have entered into a range of strategic alliances and investments to secure this supply chain for Scotland. Wind Towers Ltd is an important link in that chain and its strategic importance to SSE is reflected in our decision to increase our share in the joint venture.”
Douglas Cowan, HIE’s Area Manager for Argyll and the Islands , said:
“Investments made in developing the infrastructure, combined with the skills of the local workforce and its experience in the marketplace, means the Machrihanish facility is winning orders and attracting market interest. As the UK’s largest generator of electricity from renewable sources, SSE can continue to support the growth of Wind Towers Ltd’s and its place in the renewable energy supply chain.”
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Offshore WIND staff, August 03, 2012