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    SSE   GB0007908733

SSE PLC

(SSE)
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Delayed Quote. Delayed London Stock Exchange - 05/20 11:35:21 am
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SSE Awarded New Offshore Wind Lease in Scotland, Boosting Renewables

01/17/2022 | 05:47am EDT

By Joe Hoppe


SSE PLC said Monday that it has been successful in the ScotWind auction for new offshore wind leases off the east coast of Scotland, bolstering its renewables pipeline.

The energy company said that it and its ScotWind partners, Marubeni Corp. and Copenhagen Infrastructure Partners P/S, have been awarded by Crown Estate Scotland the rights for 858 square kilometers of seabead, to develop an offshore wind project with up to 2.6 gigawatts of capacity.

SSE owns a 40% share of the development rights, with Marubeni and CIP each owning 30%.

Given the water depths of the site, floating wind technology will be used, making the development one of the largest commercial-scale floating-wind-farm opportunities in the world.

"Projects like these can help reduce the U.K.'s exposure to volatile wholesale markets, keeping prices down for consumers and creating skilled jobs in the process," SSE Chief Executive Alistair Phillips Davies said.

The project brings SSE's secured pipeline to around 11 gigawatts, with further opportunities in development to grow this to its 15 gigawatt target.

The company added that it and its partners have already invested significant funds into pre-award development of the project.

Shares at 1025 GMT were up 14.5 pence, or 0.9% at 1,591 pence.


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

01-17-22 0547ET

Stocks mentioned in the article
ChangeLast1st jan.
MARUBENI CORPORATION 0.78% 1360.5 Delayed Quote.20.59%
SSE PLC 0.90% 1912.5 Delayed Quote.15.98%
All news about SSE PLC
05/19SSE, Brookfield Agree PPA for Dutch Offshore Wind Farm Project
DJ
05/12WALL STREET STOCK EXCHANGE : A new era of sobriety
05/12Berenberg Raises SSE To Buy From Hold, Ups PT
MT
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05/11UK's SSE to Redeem $1.27 Billion Worth of Dollar, Sterling Securities Early
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04/29SSE : Construction begins on the world's largest offshore wind farm
PU
04/27SSE : Renewables business and Brookfield partner for Dutch offshore wind tenders
PU
04/27SSE Teams Up With Brookfield Renewable For Dutch Offshore Wind Tenders
MT
04/27SSE, Brookfield Renewable join forces for Dutch offshore wind bids
RE
04/27SSE, Brookfield Partner for Dutch Offshore Wind Tenders
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Analyst Recommendations on SSE PLC
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Financials
Sales 2022 7 508 M 9 358 M 9 358 M
Net income 2022 1 145 M 1 427 M 1 427 M
Net Debt 2022 8 442 M 10 523 M 10 523 M
P/E ratio 2022 19,4x
Yield 2022 4,43%
Capitalization 20 272 M 25 269 M 25 269 M
EV / Sales 2022 3,82x
EV / Sales 2023 3,42x
Nbr of Employees 11 865
Free-Float 99,8%
Chart SSE PLC
Duration : Period :
SSE plc Technical Analysis Chart | SSE | GB0007908733 | MarketScreener
Technical analysis trends SSE PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 1 912,50 GBX
Average target price 1 893,93 GBX
Spread / Average Target -0,97%
EPS Revisions
Managers and Directors
Alistair Phillips-Davies Chief Executive Officer
Gregor Alexander Finance Director & Executive Director
John Alexander Manzoni Chairman
Sue Bruce Independent Non-Executive Director
Peter John Lynas Independent Non-Executive Director
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