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  • by Trevor Loveday

United Utilities sells its renewable energy operation in £100m deal

United Utilities has agreed to sell its non-appointed renewable energy business, United Utilities Renewable Energy to SDCL Energy Efficiency Income Trust for about £100m. It said it will “recycle” the funds raised by the sale “back into the next phase of our ambitious journey to net zero.”

In its recent annual report the company said the assets sold “primarily comprise property, plant and equipment with a carrying value of £64.6 million.”

The sale was announced as the company claimed a ‘record year’ for generating its own renewable energy in-house.

The company said that following divestment, the assets will continue to provide long-term green energy to ’ regulated water and wastewater business. United Utilities has developed a portfolio of solar, wind and hydro renewable assets since 2014 and its renewable energy arm comprises 69 MW of renewable generation assets across 70 sites.

Completion of the transaction is expected in the coming months. Royal Bank of Canada Capital Markets acted as financial advisor to United Utilities and Norton Rose Fulbright acted as legal advisor.


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