Thursday 18 November 2021

SSE to spend £12.5bn on net zero by 2026

SSE to spend £12.5bn on net zero by 2026

SSE has announced a new £12.5 billion programme to accelerate the journey to net zero.

The energy provider will invest the money by 2026, which is a 65% increase on its previous plan.

Having been a Principal Partner for the COP26 climate summit in Glasgow during the past fortnight, the company will now look to play its part in delivering the aims of the UK government, set out in the Prime Minister’s ‘Ten Point Plan’.

More than a quarter of the UK’s 40GW offshore wind target by 2030 will be delivered by SSE through this new investment and more than 20% of upcoming UK electricity network investments.

The programme will see £7 million per day spent on low carbon infrastructure, the doubling of its renewables installed by 2026 and more than double the capital allocated to the growth of the renewables sector.

Looking further forward, SSE has set more ambitious targets for 2031 – these include a five-fold increase in renewables output and renewable and low carbon technology generation capacity reaching 16GW.

Alistair Phillips-Davies, Chief Executive, said: “After all the commitments made at COP26, now is the time to deliver.

“Our Net Zero Acceleration Programme represents the next phase of SSE’s growth and involves a substantial ramping up of investment – equivalent to nearly £7 million each day in low carbon infrastructure – backed up by clear delivery and funding plans.”

Written by

Bruna Pinhoni

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