SSE renewables - trebling sse's green energy output by 2030
SSE Renewables is the leading developer, owner and operator of onshore and offshore wind farms in the UK and Ireland, with a vision to make renewable energy the foundation of a zero-carbon world. Part of the FTSE-listed SSE plc, our strategy is to drive the transition to a low-carbon future through the world class development, construction and operation of our fleet of onshore and offshore wind energy generation sites, and flexible hydro.
We operate the largest onshore wind energy fleet in the UK and Ireland, with almost 2GW of installed green energy capacity, and we have developed over 1GW of offshore wind farms including Scotland’s largest, Beatrice (588MW). And we have the largest consented offshore wind pipeline in the UK and Ireland, some 3.3GW, of any UK company.
We aim to be the largest and most efficient developer and operator of onshore and offshore wind in the UK and Ireland with a development pipeline of over 7GW, with the additional aim of expanding into further markets. In doing so we will treble our renewable energy output by 2030.
A leading energy company in a low carbon world
Here is Jim Smith, managing director of SSE Renewables, sets out why SSE has consolidated all of its renewables interests into one single entity.
In November 2018 SSE announced it is bringing together the development, operation and ownership of its renewable energy assets in the UK and Ireland under a single entity to be known as SSE Renewables.
The creation of SSE Renewables is a step towards SSE’s vision of being a leading energy company in a low carbon world and is in line with SSE’s commitment, set out in its Business Update in May 2018, to take forward a new business model that gives a greater focus on core businesses including renewables, gives investors greater visibility of assets and earnings, and gives each of its businesses the best platform for future success.
SSE Renewables will comprise SSE’s existing operational assets, and assets under development and construction in the UK and Ireland, in:
- onshore wind;
- offshore wind;
- flexible hydro electricity;
- run-of-river hydro electricity; and
- pumped storage.
The creation of SSE Renewables leads to five key opportunities:
- An experienced and dedicated management team, supported by skilled employees, focused entirely on creating value from developing, operating and owning renewable energy assets, including fulfilling the potential of offshore wind and delivering renewed impetus in onshore wind;
- Enhanced ability to raise finance from diverse sources, building on SSE’s position in project financing renewables projects and as the largest issuer of green bonds from the UK corporate sector;
- Greater scope to secure growth through entering into strategic and financial partnerships and joint ventures with companies with a shared commitment to decarbonisation of the electricity system, taking forward SSE’s established capability in partnering with other organisations;
- More potential to add to future growth opportunities by extending its core competencies in renewable energy to other technologies and geographies, where the right risk/reward balance can be achieved; and
- Greater visibility for investors, with comprehensive financial and operational disclosures through renewables group-specific reporting.