British power generator and network operator SSE said today it will sell a 25% stake in its power transmission network business to Canada's Ontario Teachers' Pension Plan Board for £1.47 billion.

The stake sale is part of the company's efforts to cut greenhouse gas emissions.

The stake sale of SSEN Transmission is part of a plan SSE outlined last November when it pledged to invest £12.5 billion in clean energy projects.

So far, SSE has sold a 33.3% stake in gas distribution operator Scotia Gas Networks for nearly £1.29 billion as part of a bid to focus on renewable power and networks.

"With significant growth forecast in transmission, bringing in Ontario Teachers' as a minority stake partner will help fund our ambitious investment plans as we continue to deliver a network for net zero emissions across the north of Scotland," SSEN Transmission Managing Director Rob McDonald said.

The investment plan announced last year represents £1 billion of additional capital expenditure per year over its previous spending programme.

SSE has said it will expand its renewable power capacity five fold to 50 terrawatt hours a year by 2031.

SSEN Transmission, which operates under its licensed entity Scottish Hydro Electric Transmission, will be chaired by SSE's finance director, Gregor Alexander, and Ontario Teachers' will get proportional representation on the board, SSE said today.

SSE also has a £750m revolving credit facility to help SSEN Transmission with capital requirements, the company said.

Power companies in Britain have been hit by the government's plans to increase a windfall tax to 35% and to extend it to power generation firms to help plug a major hole in public finances.

SSE owns SSE Airtricity here.