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British power company SSE to consolidate renewables business

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(Reuters) – British energy supplier SSE Plc <SSE.L> plans to create a new company that will include its renewable energy assets in the UK and Ireland, it said on Wednesday, and reported a 40.9 percent drop in first-half adjusted earnings.

The new company, to be known as SSE Renewables, will comprise SSE’s existing operational assets and the ones under development in onshore wind, offshore wind and flexible hydro electricity, among others.

(Reporting by Muvija M in Bengaluru; Editing by Sunil Nair)

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