SSE plc, the Perth-based electricity infrastructure giant, said its renewables output for the six months to September 30, 2024, was 44% higher when compared to the same period last year.

In a trading update, SSE said it expects to report interim adjusted earnings per share of more than 45p “reflecting the seasonal nature of operations that delivers the majority of annual earnings in the second half.”

The Perth company, the largest listed firm run from Scotland, said that during the period, SSEN Transmission sold a €850 million eight-year Green Bond in August 2024 at a fixed all-in funding cost of 4.95%. At September 30, SSE’s adjusted net debt is expected to be around £10 billion.

SSE said: “Renewables performance for the first half is higher than previous years but in line with expectations, reflecting weather conditions across the first six months of the financial year.

“This, combined with year-on-year capacity increases, has delivered output of around 5.3TWh at 30 September 2024, around 44% higher when compared to the same period last year.

“Despite the stable market environment limiting earnings from flexible thermal and gas storage during the first half, SSE continues to expect full year adjusted operating profits from these assets of at least £200m in the current market conditions.

“Progress has continued on delivering the Group’s NZAP Plus investment programme during the period, with completion reached on Viking onshore wind farm, the Shetland HVDC link and Slough Multifuel power station.

“Whilst completion of Dogger Bank A offshore wind farm is now expected in the second half of calendar year 2025, project returns are not expected to be materially impacted. Finally, the Group successfully secured government contracts for around 190MW of renewables capacity during the period.

“During the period, SSEN Transmission successfully issued a €850m eight-year Green Bond in August 2024 at a fixed all-in funding cost of 4.95%. At 30 September 2024, adjusted net debt is expected to be around £10bn.”