UURE sold for c.£100m enterprise value United Utilities announced that it has agreed to sell its non-appointed renewable energy business, United Utilities Renewable Energy Limited ("UURE") to SDCL Energy Efficiency Income Trust plc for a c.£100m enterprise value. United Utilities has developed a portfolio of solar, wind and hydro renewable assets since 2014 and UURE comprises 69 MW of renewable generation assets across 70 sites. Following divestment, these assets will continue to provide long-term green energy to UU’s regulated Water and Wastewater business, United Utilities Water Limited. Completion of the transaction is expected in the coming months, and UU intends to recycle the capital employed in the UURE business back into the next phase of its net zero journey, whilst continuing to source green energy from the existing UURE portfolio. UURE was put up for sale in 2021. We do not expect a material impact from the disposal and leave our estimates unchanged.