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SSE JV Agrees Pact With Fluor Over Wind Farm Construction Claims

General utility firm SSE PLC (SSE.LN) said Wednesday Greater Gabbard Offshore Winds Ltd., or GGOWL, which is 50% owned by SSE, and Fluor Ltd. have reached agreement on all of the outstanding claims relating to the construction of the Greater Gabbard offshore wind farm.MAIN FACTS:-Main claim related to the quality of up to 52 upper foundations (transition pieces) supporting turbines and the quality of up to 35 lower foundations supporting the same turbines.-All 140 turbines at the Greater Gabbard offshore wind farm have been energized and operational since September 2012.-In the six months to March 2013, the wind farm was operationally available to generate electricity for 87% of the time; this is forecast to increase to over 90% during 2013/14.-GGOWL is now confident about the long-term structural integrity of the disputed foundations.-Terms of the agreement between GGOWL and Fluor Ltd won't be disclosed.-SSE shares closed Tuesday at 1611 pence valuing the company at 15.524 billion pou...

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