The firm intends to exit the joint venture, NuGeneration (NuGen), which has been established to build a new nuclear power station.

In addition, NuGen has an option to purchase land for the development of a new to 3.6GW nuclear power station near Sellafield in West Cumbria, UK.

The option was secured for an initial cash consideration of GBP19.5m in October 2009.

SSE generation and supply director Alistair Phillips-Davies said the company has made it clear from the start of its involvement in NuGen that it’s our core investment in generation should be in renewable energy.