Perth-based electricity infrastructure giant SSE said renewable output in its first quarter was 60% higher than the same period last year “reflecting a return to more normalised weather conditions over the period, in addition to year-on-year capacity increases.”
In a trading update SSE said Q1 performance was “in line with expectations and continues to demonstrate the strength and stability provided by SSE’s balanced mix of regulated and market-based businesses that are at the heart of the energy transition.”
SSE said financial expectations for individual business units as set out in May remain unchanged, and continue to be subject to weather, market conditions and plant availability across the key winter months to come.
The group said delivery of its fully-funded £20.5 billion NZAP Plus (Net Zero Acceleration Programme) investment plan continues to progress, with a number of recent developments and milestones on major projects.
Good progress has been made on Shetland, with first power generated at Viking onshore wind farm ahead of full energisation of both the wind farm and SSEN Transmission’s HVDC link to the mainland expected in the coming weeks.
The final turbine has been installed on the Yellow River onshore wind farm, with the project on track for commercial operations early in 2025.
Construction is progressing on Dogger Bank A offshore wind farm with 27 turbines either fully or partly installed and the project continues to target full commercial operations during the first half of 2025.
Enabling works are continuing at pace on SSEN Transmission’s Eastern Green Link 2 between Peterhead and Drax while HVDC cable supply contracts have been agreed with NKT on projects in Aberdeenshire and the Western Isles.
The firm said: “In addition, highlighting the opportunities available beyond the current investment plan, SSE has confirmed that it will proceed with development of the 2GW Alpha offshore wind tender site (SSE share 50%) in the IJmuiden Ver Wind Farm Zone in the Netherlands. Subject to reaching a Final Investment Decision, the project could be commissioned by the end of the decade.”
SSE Chief Financial Officer Barry O’Regan said: “We have made a solid start to the financial year as we convert our premium project pipeline into high-quality sustainable earnings.
“We remain on track to meet our 2027 growth targets that are underpinned by world-class assets and balance sheet strength, with two-thirds of revenue either regulated or already backed by existing government policy.
“The outlook is supported by the enhanced clean power target of the new UK Government which recognises the essential need for investment in renewables, flexible power and electricity networks – areas where SSE has unrivalled capability and significant growth potential.”