SSE Slashes Offshore Wind Plans

GALWAY, IRELAND--March 31, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Limited government support and concerns over return on investment have been cited as key the reasons why U.K. energy company SSE plc (Perth, Scotland) has drastically reduced its interests in a number of large offshore wind projects worth over €24 billion ($32.9 billion). br>
The company said that it has decided to "narrow significantly the focus of its near term development plans for its offshore wind development portfolio".