Pennon Group (PNN): Sale of Pennon Power
This situation live
PNN Pennon Group
7 Oct 2026 · Proposed sale, part of funding plan · +3% since
The proposed sale of Pennon Power, with approximately £25 million of proceeds to be reinvested in 'behind the meter' renewable generation at the Group's operational sites and the remainder applied to
7 Oct 2026 · Proposed; listed in funding plan · +3% since
the proposed sale of Pennon Power;
Sale of Pennon Power
Proposed; listed in funding plan
Every step · 2
What is happening
Pennon Group: Sale of Pennon Power – Proposed; listed in funding plan. ['Proposed; listed in funding plan']
- In short
- Pennon proposes to sell Pennon Power as a strand of the revised funding plan, alongside the rights issue, rebased dividend and reinvested efficiencies. The announcement gives no price or buyer; the dossier shows about £25m of proceeds reinvested and the rest cutting Group debt.
- Announced
- 7 Oct 2026 · Proposed sale, part of funding plan
- Latest
- 7 Oct 2026 · Proposed; listed in funding plan
- Business sold
- Pennon Power
- Use of money
- About £25m reinvested in behind-the-meter renewables; remainder reduces Group debt
- Price
- Not stated
- Buyer
- Not stated
From the company's own announcements. Not investment advice.
Briefing
Pennon Group in 4 minutes
Pennon owns water and sewerage companies in the South West of England and water-only companies around Bristol and in Surrey. It returned to profit in 2025/26 as a record investment programme began to lift its allowed...
- Act 1Buying Sutton and East Surrey, funded by shareholders
- Act 2The loss year and a bigger raise
- Act 3Profit returns, but the weather and the targets bite
Also at Pennon Group 6 open
Transformational contract / build-outK8 capital investment programme – Programme enlarged to c.£3.6bn; draft determination out
New CEO / resetCEO succession – Plan announced, actions under way
Dilutive fundraiseRights issue – Terms set; subscription period opens 12 October
Project milestonesPennon Power build-out – Fife and Aberdeenshire energised, generating revenue
Turnaround plan with targetsWastewater pollution reduction plan – Pollutions down c.34%; EPA 1* provisional
Pennon Group – company page →