ScottishPower has unveiled £5.4 billion worth of supply chain contract opportunities as it “turbo charges” the next phase of its electricity network investment in “the largest overhaul of the grid since its inception.”
The company’s grid business SP Energy Networks is encouraging companies with the skills and experience to bid for contracts to design, develop and upgrade new and existing strategic transmission infrastructure.
Interested businesses are invited to submit expressions of interest by noon on January 31.
The new contracts are for work that includes new high voltage substations, overhead line construction as well as design, engineering, construction, and electrical works.
The contracts will cover the next 10 years and will include transmission projects across central and southern Scotland.
“It will help move more green energy across the country to help deliver a low carbon future, connecting 80-85GW of clean renewable energy to the GB transmission system and reduce the UK’s reliance on fossil fuels,” said ScottishPower, which is owned by Spanish renewable energy giant Iberdrola.
The boost for the supply chain by SP Energy Networks business is the company’s “biggest issued contract opportunity ever” and will see major investment in green energy infrastructure and green jobs “which will bolster the grid for decades to come.”
With electricity demand forecast to double in the next 10 years, the International Energy Agency says the UK needs more than 600,000km of new or upgraded electricity lines to meet its needs.
ScottishPower CEO Keith Anderson said: “We’re kickstarting the largest overhaul of the grid since its inception.
“Our investment plans will help grow our electricity networks, grow our workforce and will provide a massive opportunity for the supply chain whilst unlocking growth for the wider economy.
“It is vital we get serious about getting on with the job of consenting and getting this new grid built so that we can take advantage of clean green renewables, transport it around the country and lock in our energy security and maintain the UK’s track record in leading on decarbonisation”
SP Energy Networks CEO Vicky Kelsall said: “This is one of the most significant infrastructure roll outs to upgrade the grid to support the electricification of the wider economy.
“We’ve got the plans and we’ve got the financial capital to invest, and the UK supply chain stands ready to benefit to the tune of billions.”