SSE sets out £7bn worth of plans for low-carbon investments

Energy company SSE has set out £7 billion worth of investments it will be making in low carbon initiatives in the UK and Ireland over the next five years.

Alistair Phillips-Davies, SSE chief executive, said the company would be putting its money where its mouth is for the green recovery.

It has greenlit projects like the 103-turbine Viking Onshore Wind Farm on Shetland. Its Transmission business plans for a minimum of £2.4bn of investment in near shovel-ready projects to help the UK reach net zero by 2050.

Other committments include facilitating an electricity network flexibility and infrastructure that helps accommodate 10 million electric vehicles in the UK by 2030, developing and building by 2030 more renewable energy to contribute renewable output of 30TWh a year and cutting its carbon intensity by 60% compared to 2018 levels, to around 120gCO2/kWh.

As well as committing to providing the infrastructure needed within SSE's network areas to support the electrification of transport in the UK, in July 2019 SSE took the step to reduce its operational carbon emissions by joining The Climate Group’s global EV100 initiative and committing to electrify its vehicle fleet.

SSE operates one of the largest operational vehicle fleets in the UK and by 2030 will switch 3,500 of its vehicles to electric and install charging points for its employees to use. SSE has already installed over 50 charging points across 20 of its national locations.

SSEN Distribution is "working at pace" to pilot and trial electricity network flexibility that will enable local grids to accommodate, at scale, the electrification of cars. It said that SSEN’s Project LEO and a partnership between government and network owners in Scotland "represent two of the most significant projects in the UK that will help accelerate transport electrification".

SSE has also set a new series of carbon reduction targets, alligned to the 2016 Paris Agreement, and validated by the Science Based Target initiative, which will SSE strive to cut emissions further and faster.     

Phillips-Davies said: “We want to do more. We’re a UK-listed business that’s been investing in renewable energy since we brought hydro power to Scotland over 80 years ago.

“As the Prime Minister and the Chancellor turn their attention to the green recovery and the economic stimulus it may require in the coming weeks, our message is that we’re here to help and we stand ready to invest billions of private capital in the coming years in projects, providing jobs and regenerating communities without relying on public funding.   

“We’re putting our money where our mouth is. And with long-term vision from the Government, we can make the green recovery a reality.”