Investors are eagerly awaiting SSE’s interim results on Wednesday, hoping for an update on the FTSE 100 energy group’s spending plans and progress on its renewable projects.
SSE, one of Britain’s largest offshore wind developers, has recently completed a number of major projects including the 443 megawatt Viking onshore wind farm, the Shetland Subsea Link, which will connect the Shetland Islands to the UK transmission grid, and the Slough Multifuel energy network. power plant from waste.
The results could also provide insight into possible delays at Dogger Bank A, one of the world’s banks largest offshore wind farms. Together with the two sister sites, the Dogger Bank project is expected to deliver a combined capacity of 3.6 gigawatts. However, the timeline for Dogger Bank A’s completion has already been pushed back to the second half of next year, and further setbacks could impact SSE’s expected growth.
SSE has committed to an ambitious growth strategy, with the aim of increasing profits at a compound annual rate of 13-16% and increasing dividends by 5-10% by 2027 compared to 2022 levels. To support these sustainable energy projects finance, the company has cut its dividend for this year to 60p per share.
Given the significant developments in sustainable energy, SSE’s results will be closely monitored as we pursue both sustainable energy growth and shareholder returns. Investors will look forward to updates on expenditures, timelines and how SSE plans to achieve its substantial growth targets in a rapidly evolving energy market.