By Paul Homewood
h/t Doug Brodie
SSE has cut its capital investment programme by £3 billion over the next five years, as financial realities begin to bite.
City AM report:
SSE, one of the UK’s biggest energy companies has said it is unlikely to meet its 2030 renewable goal in the latest blow to the government’s net zero plans.
SSE said it decided to cut capital investment by as much as £3bn over the next five years, citing macroeconomic uncertainty and planning obstacles.
The Perth-based firm said the move meant it was now set to fall short of its target of having 50 terawatt-hours of renewable generation output by 2030.
“SSE Renewables has seen a significant growth in installed capacity and output over the last few years, however the changing macroeconomic environment and wider delays to planning processes mean the group has reduced its near-term capital investment expectations,” the firm said.
“As a result, it is unlikely to meet its ambitious goal.”
Full story here.
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May 21, 2025 at 08:09AM
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