UK energy firm SSE (LON:SSE) saw a 60% increase to its renewables output for the first quarter of 2024, largely due to a return to “more normalised weather conditions”.
In a first quarter trading update, the Perth-based firm said it generated just over 1,069GWh of electricity from onshore wind in the three months to June this financial year, compared to 715GWh in the same period last year.
Meanwhile, offshore wind generation increased from 496GWh in the same period last year to 874GWh this year.
Hydropower generation increased from 341GWh in Q1 2023 to 565GWh, while pumped storage generation reached 88GWh this year.
SSE said total output from its gas-fired generators decreased by approximately 10% year-on-year.
© Supplied by SSEThe company said it continues to make good progress on its £20.5bn net zero investment plan, with recent milestones including first power from the Viking onshore wind farm in Shetland.
The company also recently struck cable supply deals with NKT for two high voltage direct current (HVDC) transmission connection projects in Scotland.
SSE chief financial officer Barry O’Regan said the firm made a “solid start” to the financial year as it converts it “premium project pipeline into high-quality sustainable earnings”.
“We remain on track to meet our 2027 growth targets that are underpinned by world-class assets and balance sheet strength, with two-thirds of revenue either regulated or already backed by existing government policy,” O’Regan said.
“The outlook is supported by the enhanced clean power target of the new UK government which recognises the essential need for investment in renewables, flexible power and electricity networks – areas where SSE has unrivalled capability and significant growth potential.”
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