Investors are keenly awaiting SSE’s interim results on Wednesday, hoping for an update on the FTSE 100 energy group’s spending plans and progress on its renewable projects.
SSE, one of the UK’s largest offshore wind developers, recently completed several significant projects, including the 443-megawatt Viking onshore wind farm, the Shetland subsea link, which will connect the Shetland Islands to the British transmission grid, and the Slough Multifuel energy-from-waste power station.
The results could also provide insight into potential delays at Dogger Bank A, one of the world’s largest offshore wind farms. Together with its two sister sites, the Dogger Bank project is expected to deliver a combined capacity of 3.6 gigawatts. However, the timeline for Dogger Bank A’s completion has already been pushed back to the second half of next year, and any further setbacks could affect SSE’s projected growth.
SSE has committed to an ambitious growth strategy, aiming to increase earnings by an annual compound rate of 13-16% and raise its dividend by 5-10% by 2027 compared to 2022 levels. To fund these renewables projects, the company reduced its dividend for this year to 60p per share.
With significant developments in renewables, SSE’s results will be closely watched as it pursues both sustainable energy growth and returns for shareholders. Investors will be looking for updates on spending, timelines, and how SSE plans to deliver on its substantial growth targets in a rapidly evolving energy market.
Jamie Young
Jamie is a seasoned business journalist and Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops to stay at the forefront of emerging trends.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs, sharing their wealth of knowledge to inspire the next generation of business leaders.
