SSE increased renewable electricity generation by almost a third in the first quarter of the financial year, as more favourable weather and additional capacity boosted output.

In a market update this morning, the firm said generation from SSE Renewables rose 31% year-on-year to 3,264GWh during the three months to June, up from 2,499GWh in the same period last year.

Onshore wind generation increased to 1,460GWh, offshore wind reached 982GWh and hydro, pumped storage and battery output more than doubled to 822GWh.

The company also reported an 83% increase in investment across its regulated networks business, with £888million invested during the quarter compared with £484million a year earlier. 

Construction is progressing on major electricity transmission projects, including the Netherton Hub near Peterhead, while work has also begun on the Western Isles HVDC link.

SSE said it remains on track to invest a record £5billion this year as part of its five-year £33billion investment programme, with financial guidance for the year unchanged.

Barry O'Regan, Chief Financial Officer, said: "Since announcing our £33billion investment programme to unlock the enormous growth opportunity of UK electricity networks, we are continuing to see real progress as we work to deliver the plan, and in doing so we are underpinning compounding, long-term earnings growth and creating significant value for investors."

He added: "Recent momentum has given increased visibility over the delivery of our 2030s pipeline as the system operator's strategic plans begin to crystalise and further transmission projects emerge. 

"We remain confident in sustained momentum behind a homegrown energy system that will deliver secure, more affordable electricity, support economic growth and create significant long-term investment opportunities across our businesses."

More like this…

View all