SSE Says Disposal Program Has Made Good Progress, On Track to Get More Than GBP2 Billion
July 22 2021 - 2:50AM
Dow Jones News
By Anthony O. Goriainoff
SSE PLC said Thursday that it has made good progress in its
disposal program, and that it is on course to get more than 2
billion pounds ($2.74 billion) from the sale of noncore assets and
businesses not in line with its net zero strategy.
The FTSE 100-listed energy company said it is seeking to add to
its renewables pipeline and has submitted bids alongside partners
for a number of sites through the ScotWind seabed leasing process
in Scotland.
The company said capital expenditure and investment for fiscal
2022 is still expected to be around GBP2 billion, net of project
finance development expenditure refunds.
On the operational side, for the three months ended June 30, SSE
reported a 19% fall in renewable power output, and said this was
mainly due to weather conditions. The company said this shortfall
represented less than 4% of the annual total output forecast.
SSE's gas-fired generation in the first quarter of fiscal 2022
was around 9% lower than in the year-prior period. The company said
this was a reflection of plant availability and market
conditions.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 22, 2021 02:42 ET (06:42 GMT)
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