SSE sells SGN stake for £1.2bn as energy firm completes disposals August 2, 2021 Energy firm SSE has today sold off its entire stake in Scotia Gas Networks (SGN) for £1.2bn as it completes its £2bn disposal programme. The FTSE 100 firm said that a consortium comprising existing SGN shareholder Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners would buy out its 33.3 per cent stake. Shares [...]
SSE Networks bows to stakeholders and plots a £4bn net zero investment July 1, 2021 Scottish and Southern Electricity Networks (SSEN) may pledge over £4bn in the push for net zero, the energy giant said in a draft business plan today. The draft plan for 2023 to 2028, which was led by stakeholders according to SSEN, set goals like cutting unplanned power interruptions by 20 per cent and connecting a [...]
SSE profit rises as energy giant ramps up net zero push May 26, 2021 SSE today posted a rise in profit for the full year as the energy giant pushes ahead with its strategy of reaching net zero carbon emissions. The FTSE 100 firm posted adjusted profit before tax of £1.06bn in the year to the end of March, up four per cent on the previous 12 months. This [...]
SSE and Equinor to build Scotland’s first carbon capture power station May 11, 2021 Energy heavyweights SSE and Equinor have tabled plans to build Scotland’s first power station using carbon capture technology, in a step towards a low carbon future. If repurposed, the gas-fired unit at Peterhead, Aberdeenshire, could catch up to 1.5m tonnes of carbon dioxide from its emissions each year. The plans are still dependant on securing [...]
SSE and Equinor join forces to develop low-emission power stations on the Humber April 8, 2021 Energy giants SSE and Equinor will join forces to build two new low-emission power stations on Humberside, continuing the recent stream of investment into the north-east. Under the proposals, one of the power stations will be fuelled by natural gas but fitted with carbon capture and storage (CCS) technology to remove its emissions. The other [...]
SSE to sell contracting division to Aurelius Group for £27.5m April 1, 2021 SSE today said it has secured an agreement to sell its contracting division to asset manager Aurelius Group in a £27.5m deal. The London-listed energy group said the deal consists of a £17.5m up-front payment, which will be adjusted for items such as working capital and separation costs. A further £5m loan note will be [...]
SSE warns of £180m blow as renewables output shrinks March 30, 2021 London-listed energy supplier SSE has warned this morning of a £180m blow to its annual profits after its year-to-date renewables output was around nine per cent less than planned. Reduced wind generation and lower hydro volumes may have fuelled the blow, analysts have said. The network operator reported a five per cent dip in renewable [...]
SSE mulls sale of stake in gas firm SGN as part of £2bn disposals plan February 2, 2021 Energy giant SSE today said that it was mulling the sale of all or part of its stake in gas firm SGN as part of its £2bn disposals programme. SGN – formerly Scotia Gas Networks – owns and manages gas distribution to 5.9m households in Scotland and the south of England. SSE hold a 33 [...]
SSE takes Covid profit hit amid green energy push November 18, 2020 Energy giant SSE today said that profit before tax had fallen a quarter in the first half of the year due to the coronavirus pandemic. The FTSE 100 company said that the pandemic had cost it £115m over the last six months, with full year costs between £150m and £250m forecast. Adjusted profit before tax [...]
SSE joins net zero push with 2050 emissions pledge November 11, 2020 Energy giant SSE has become the latest business to commit to reaching net zero emissions by 2050, it was announced this morning. Over 1,000 companies have already signed up to the “Race to Zero” campaign, placing their operations in line with efforts to limit global warming to 1.5 degrees. The Scottish business has already put [...]