SSE will continue £7.5b green energy plan despite Covid-19 disruption

  • Energy provider SSE has announced that it will continue its plans to invest £7.5b in green energy over the next five years despite the impact of Covid-19.

    The coronavirus outbreak is set to cost energy firm SSE between £150m and £250m over the course of the current financial year if current financial projections hold. The firm had previously announced that it would be spending an incredible £7.5b in low-carbon renewable energy over the next five years, and that plan could have been in jeopardy as a result of coronavirus disruption.

    SSE has now announced that it will be going ahead with its £7.5b plan to invest in green energy infrastructure despite the coronavirus crisis. It's also planning to pay its dividend as usual until at least 2023 to keep investors on board, and expects the investment in green energy to really pay off in the coming years.

    Chief Executive Alistair Phillips-Davies commented on the announcement: "Throughout the first quarter of 2020-21, our key workers continued to support the national coronavirus response by supporting the safe and reliable supply of electricity. At the same time, we are delivering the comprehensive financial plan we set out last month at our full-year results, continuing work on our disposal programme and successfully issuing over £1 billion in hybrid bonds."

    Source: Irish News

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