Help Desk -
9717405332, 9599714297, 9810335381

SIMEC Energy seals hydro deal and targets 1GW of renewable power capacity

Steel News - Published on Wed, 06 Dec 2017

Image Source: .bestwebsiteinindia
The Gupta family-owned SIMEC Energy announced the acquisition of GHR had been agreed for an undisclosed sum, adding that it the deal is expected to complete by the end of February 2018. The move will give SIMEC Energy ownership of GHR's 18 hydro-electric power stations in the Scottish Highlands, as well as its 17-strong design and engineering team.

Alongside the deal, SIMEC announced a target to build 1GW of new hydroelectric generation capacity in the UK over the next three years. It plans to build eight new hydro power plants on its Lochaber Highland estate, where its aluminium smelting operations are located.

Separately, the firm is also working on plans to develop the UK's first subsidy-free onshore wind farm in the Scottish Highlands, with a planning application due to be submitted in Spring 2018.

SIMEC Energy is part of the Gupta family's GFG Alliance, which under its GREENSTEEL strategy has championed the use of renewable power to manufacture a range of low carbon metals in both the UK and Australia.

Source :

Posted By : Ratan Singh on Wed, 06 Dec 2017
Related News from Steel segment