By Sabela Ojea

 

SSE PLC said Tuesday that its renewables business SSE Renewables has signed an exclusivity agreement with Spanish Acciona to create a 50%-50% joint venture to enter Spain and Portugal's offshore wind markets.

The FTSE 100 energy company said the joint venture will focus on the development, construction and operation of offshore wind and wider renewables, as well as in the Iberian market and regulatory landscape.

The company also said the deal includes scope to jointly explore other wind markets.

"Spain and Portugal have both set net zero emissions targets for 2050 and are two of the leading countries in Europe for renewable energy in terms of capacity built to date and ambitions for the future. The Spanish Government is expected to publish an offshore wind strategy this year," SSE said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

February 23, 2021 07:51 ET (12:51 GMT)

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