SSE teases mega investment plans to fight off prospect of a windfall tax ENERGY RESULTS Energy giant SSE has reported a 15 per cent boost in profits and a 23 per cent rise in earnings per share, driven by record investment this year.
SSE Renewables jumps into Japanese offshore wind with $208m stake SSE Renewables has jumped into Japan’s offshore wind farm market with a $208m joint venture with local renewables company Pacifico Energy. The alliance will see the energy firm’s develop offshore wind energy projects in Japan, as the country seeks to become net-zero by 2050. SSE shares dipped 0.5 per cent to 1,586.5p in its afternoon trading. [...]
Energy supplier SSE: No decision to break up group Energy supplier SSE: No decision to break up group Bosses of energy company SSE said there had been no decision to break the company up, they said following media speculation. In a note published on Monday, the supplier said there had not been a decision to break up the group. SSE said it would provide an update on plans to further accelerate growth in [...]
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 [...]