SSE – GC Powerlist
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United Kingdom Teams 2022

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SSE

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United Kingdom Teams 2022

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What are the most significant cases or transactions that your legal team has recently been involved in?

There have been multiple cases in which our legal team has participated in. More specifically, the successful execution of the strategic sale of SSE’s 33.3% stake in Scotia Gas Networks for £1.28bn and advising on the planned disposal of a 25% stake in SSE’s transmission and distribution electricity network businesses. Additionally, we have successfully challenged, by way of judicial review, a Competition and Markets Authority decision on the terms to be included in the connection and use of system code.

Furthermore, we worked closely with our business colleagues on the creation of SSE’s ransomware response plan and on the development of a framework for third party due diligence, that the business should follow when conducting mergers and acquisitions, as well as supply chain activities. Lastly, we have been closely advising on several key infrastructure projects.

How has the increasing consciousness of climate change and sustainability affected your company and the team’s priorities?

SSE’s strategic objectives are heavily focused on reaching net zero and operating clean energy infrastructure. As that focus has sharpened, our legal team has played a key role in executing SSE’s strategic disposal programme over the last few years. The team has led several high value, strategic disposals of businesses which were less aligned with our net zero strategy, with a total headline consideration of over £2.8bn. The proceeds from these divestments will support SSE’s plans to invest in the low-carbon infrastructure needed to help the UK transition to a net-zero future.

In addition to disposing of assets which do not align with SSE’s commitment to a net zero future, SSE is actively working to decarbonise its existing fleet of generation assets, exploring opportunities in emerging carbon capture and hydrogen technologies. SSE is currently working with Equinor to develop two projects utilising carbon capture usage and storage technology, both of which are being considered as part of the UK Government’s cluster sequencing process. SSE legal has supported the business in all aspects of these projects including developing and formalising the collaboration with Equinor and supporting the business with their cluster sequencing process submissions.

Our determination to act in a sustainable way is embedded throughout all our different business operations. As a legal team, when we are advising, the business’ sustainability is a crucial consideration, and we are conscious of the impact our advice can have on mitigating climate change, managing emissions towards a science-based target, promoting a positive environmental impact, supporting thriving communities, connecting societies through collaboration and whole system solutions, as well as managing resources to minimise waste.

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