Windfarm approval can't lift SSE shares

Published Date: 26 February 2009
SCOTS STOCKS

SCOTTISH & Southern Energy eased almost 2 per cent yesterday despite having another offshore wind farm approved in the Dutch area of the North Sea. Perth-based SSE said Breeveertieen II, the second Dutch wind farm it has been given permission for
, will have the capacity to produce some 350Mw from 97 turbines situated about 60 kilometres off the coast of Ijmuiden. But despite high values being placed on consented wind farm assets, SSE's shares dropped 19p or 1.7 per cent to 1,108p.Oil shares rose on the back of a rise in crude prices, with Dana Petroleum extending gains made on Tuesday when it announced another significant discovery in the North Sea. Its shares jumped 69p to 1,025p, while, elsewhere in the sector, Venture Production climbed 2.9 per cent to 496p and Melrose Resources rose 4.5 per cent at 189.75p.FTSE-100 explorer Cairn Energy climbed 45p to 1,916p despite reports that it had surrendered some exploration rights in Bangladesh.On Aim, Clyde Process Solutions was unchanged at 21.5p, after it warned in a trading statement covering the year to 28 February that economic conditions had been "challenging" but it had continued to pick up orders.