September start for UK power grid sale
The long-awaited sale of a minority stake in the UK power grid is expected to kick off in September (2022), with big names rumoured to be in the mix.
Scottish and Southern Energy Networks (SSE) is selling its 25% stake in the UK’s electricity transmission and distribution networks.
The process was due to start earlier this year (2022), as exclusively reported on by IJGlobal, but has since been delayed.
Rumoured interested parties are:
- Global Infrastructure Partners
- IFM Investors
SSE is understood to be finalising the structure of the sale and is considering splitting the transaction into 2 separate deals for its transmission and distribution assets. The combined regulatory asset base of the 25% stake is £7.5 billion ($7.7bn).
Sell-side advisers Morgan Stanley and Rothschild have been appointed.
SSE operates in northern Scotland and is one of 3 electricity transmission companies in mainland UK. National Grid and SP Energy Networks are the other 2 operators.
In total, 5 other companies are involved in electricity distribution:
- Electricity North West
- Northern Powergrid
- ScottishPower Energy Networks
- UK Power Networks
- Western Power Distribution
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