SSE plc, the Perth-based electricity infrastructure giant, said on Wednesday its renewables output is expected to have increased by around 17% year-on-year “reflecting capacity additions and variable weather conditions.”

In a full-year trading update and outlook for the fiscal year just ended, SSE said its 2024-25 adjusted earnings per share are expected to be in the range of 155p – 160p.

“On course to deliver investment of around £3bn this financial year, reflecting the disciplined capital allocation underpinning SSE’s NZAP Plus investment programme …” said the firm.

“The updated guidance reflects expected renewables output of around  13.0 TWh, around 17% higher than prior year reflecting capacity additions and variable weather conditions which have continued in the final months of the year.

“SSE’s regulated networks businesses have continued to deliver strong operational performance, with operating profit expectations for the group’s other Business Units remaining unchanged.

“Progress has continued on the NZAP Plus investment plan, with around £3bn of capital investment expected to be reported for the year.

“This disciplined investment with a focus on value and efficiency continues to be underpinned by a strong and stable balance sheet, with adjusted net debt and hybrid capital expected to be around £10bn at 31 March 2025.

“The Group is focused on delivery of NZAP Plus and reaffirms its target of 175 – 200 pence adjusted earnings per share for fiscal year 2026/27.”