Last checked at 
LONDON (Alliance News) - SSE PLC late Thursday said it has instructed Credit Suisse Securities Europe Ltd to repurchase its shares for cancellation up to the value of GBP50 million.
The blue-chip energy company said the transaction forms part of its capital return programme announced in the beginning of February.
At the time, the company agreed to sell a 49.9% stake in its Stronelairg and Dunmaglass wind farms to Greencoat UK Wind PLC and its partner, an undisclosed UK pension fund, whose investment is managed by Greencoat Capital. The transaction was expected to complete by the end of March.
SSE intended to use GBP200 million of the sale proceeds to fund the discretionary share buyback that it announced in mid-July, while the remaining proceeds were said to be used to reduce debt. The company also planned to begin the buyback before the transaction was complete.
SSE shares closed 1.4% lower on Thursday at 1,203.00 pence each.
