Scottish & Southern Energy Signs Offshore Wind Alliance Pact

Scottish & Southern Energy PLC (SSE.LN), said Wednesday that it has entered into a Memorandum of Understanding under which the companies involved will form an alliance to collaborate on Scottish & Southern's offshore wind program, with the aim of securing substantial reductions in the cost of delivered power from offshore wind farms.

MAIN FACTS:

-The companies are Siemens PLC, Siemens Transmission and Distribution Ltd, Subsea 7 Ltd, Burntisland Fabrications Ltd and Atkins,

-Over the next few months, the parties will work closely together to agree the formal commercial arrangements of the alliance before embarking on design activities.

-This builds on SSE's agreement last year with Mitsubishi Heavy Industries and Mitsubishi Power Systems Europe to cooperate on the development of the next generation of offshore wind turbines.

-The new alliance is designed to meet the challenges of high capital costs and supply chain sustainability, thereby supporting the development and construction of offshore wind projects.

-In due course, the companies will co-locate activities covered by the new agreement in the Centre of Engineering Excellence for Renewable Energy established by SSE and the University of Strathclyde in Glasgow.

-Jim Smith, Director of Offshore Renewables for Scottish & Southern

-Scottish & Southern shares at 1010 GMT up 1 pence, or 0.08%, at 1214 pence, valuing the company at GBP11.32 billlion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com

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