SSE says it delivered a record £3.6 billion of capital investment during the past financial year - as major energy infrastructure projects across the North-east gather pace.
The energy giant has confirmed strong progress on several projects linked to the north of Scotland transmission network, including continued work at the Peterhead converter station as part of the Eastern Green Link 2 (EGL2) subsea project.
Within SSEN Transmission, investment rose sharply to £1.7billion during the year to March 31, helping drive a 74% increase in adjusted operating profit to £562.6million.
SSE said £137million was invested in EGL2 during the year, while the East Coast 400kV upgrade between Kintore and Kincardine also “continues to make good progress”.
The company added that several sections of the route will now use higher-capacity conductors than originally planned, with full energisation expected in 2027.
Across its wider operations, SSE reported adjusted operating profit of £2.24billion, down 8% year-on-year, while overall investment and capital expenditure increased 23% to £3.6billion.
Chief executive Martin Pibworth said: “This year has demonstrated the strength and resilience of SSE's integrated model.”
He added: “By operating our business efficiently and optimally, while accelerating electrification and building energy infrastructure to unlock homegrown renewables, we are strengthening energy security and lowering system costs over time.”
SSE said construction is now under way on five of its 11 major transmission projects, with around 75% of major consents secured.
The business also highlighted investment in the Orkney link project and wider network reinforcement works across northern Scotland as part of its long-term transmission expansion plans.
Looking ahead, SSE said annual capital expenditure is expected to rise further to more than £5billion during 2026/27 as delivery of its wider £33billion investment programme accelerates.
FSTE100
The UK's flagship share index, the FTSE 100, was down 98-points at 10,406 shortly after opening this morning.
Brent crude oil futures were up 2.57%, sitting at $94.77 a barrel this morning.
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