SSE Reports 26% Rise in Renewables Output, Maintains Earnings Guidance

SSE has reaffirmed its fiscal year 2024/25 earnings guidance, projecting adjusted earnings per share between 154p and 163p, largely due to a significant 26% increase in renewable energy generation over the first nine months. This growth reflects both capacity additions and favorable weather conditions despite recent adverse weather events, including Storm Eowyn. The company reported strong operational performance and has made strides in its renewable energy projects, such as achieving first power at the 101MW Yellow River onshore wind farm and progressing on the Dogger Bank offshore wind farm. SSE's transmission arm, SSEN Transmission, has laid out an ambitious £22 billion investment plan in critical grid infrastructure through 2031, with the potential for total investments to reach £32 billion. Barry O’Regan, SSE's CFO, emphasized the company's commitment to capital discipline and strategic delivery amid changing market conditions. Overall, SSE remains well-positioned for future growth in the renewable energy sector.