SSE's 9-mo renewables output falls 10% short of guidance

The Stronelairg wind farm. Image by SSE (www.sse.com)

February 8 (Renewables Now) - UK utility SSE Plc (LON:SSE) today said the dry and still weather has led to a 10% lower-than-expected renewable energy output in the nine months ended December 2018, while confirming renewables spending plan for the fiscal year.

The company’s renewable energy facilities generated 6.6 TWh of electricity in the first nine month of fiscal 2018/19, which was an increase from 6.5 TWh a year earlier. Wind output was up slightly, from 4 TWh to 4.1 TWh, while hydropower generation declined to 2.4 TWh from 2.5 TWh. Power production from SSE’s biomass facility was 0.1 TWh.

At the end of 2018, the utility’s cumulative installed renewables capacity stood at 3.9 GW, an increase from 3.8 GW at end-2017. After the recently agreed sale of a 49.9% stake in the 228-MW Stronelairg and 94-MW Dunmaglass onshore wind farms and the completion of the 588-MW Beatrice offshore wind park, in which SSE owns a 40% stake, that capacity will come at 4,030 MW. 

In its nine-month trading statement, SSE also confirmed plans to spend around GBP 1.1 billion (USD 1.43bn/EUR 1.25bn) for regulated electricity networks and renewable energy as part of its capital investment programme for 2018/19.

“We continue to make good progress in our core businesses of regulated energy networks and renewable energy, complemented by flexible thermal generation and business energy sales,” said CEO Alistair Phillips-Davies.

SSE is working on a plan to consolidate the development, operation and ownership of its renewable energy assets under a single entity called SSE Renewables.

(GBP 1.0 = USD 1.299/EUR 1.143)

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