Greenbond

SSE has followed up its inaugural €600m Green Bond in September 2017 (Green Bond 1) with a second €650m Green Bond in September 2018 (Green Bond 2) – making SSE the largest issuer of Green Bonds in the UK corporate sector.

The proceeds from both SSE’s Green Bonds have been allocated to refinancing part of SSE’s £1.1bn portfolio of eligible projects of onshore wind farms in the UK and Ireland and the 1.2GW Caithness Moray High-Voltage Direct Current (HVDC) connection project. These eligible projects are listed in SSE’s Green Bond Framework, which also sets out SSE’s Green Bond Principles.

A commitment was given to update investors each year on the allocation of proceeds and environmental impact from the Bond. SSE’s Green Bond reports are detailed below, along with PwC LLP’s independent assurance of allocation to specific eligible green projects.

Green Bond reporting and assurance

2019 Green Bond Assurance Report

Disclaimer related to PwC’s Limited Assurance Report 2019

You have requested access to a copy of a report prepared by PricewaterhouseCoopers LLP (“PwC”) on SSE’s Green Bond (the “report”). SSE plc, to whom the report is addressed, has confirmed that a copy of the report may be provided to you. PwC* has consented to release of the report to you on condition that you accept and agree to the terms below.

By clicking on the “I ACCEPT” button below, you confirm the following:

I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:

  1. PwC accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
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  3. Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation;
  4. PwC’s report was prepared with SSE plc's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. PwC’s assurance report is based on historical information. Any projection of such information or PwC’s opinion or views thereon to future periods is subject to the risk that changes may occur after the report is issued. For these reasons, such projection of information to future periods would be inappropriate;
  5. PwC will be entitled to the benefit of and to enforce these terms; and
  6. These terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts.

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* PwC refers to PricewaterhouseCoopers LLP, a limited liability partnership incorporated in England (number OC303525), whose registered office is at 1 Embankment Place, London WC2N 6RH