UK firm SSE sets up renewables unit

UK: Utility SSE has launched a new business unit to incorporate all of its renewable energy assets to provide more focus on its clean energy generation.

SSE Renewables will have an operational renewable energy portfolio of roughly 4GW

SSE Renewables will be responsible for SSE’s existing and under-development projects in onshore wind, offshore wind, hydro and pumped storage, the firms said.

"The group’s operational assets are currently expected to total over 4GW at 31 March 2019, with actual capacity subject to the potential sale of stakes of up to 50% in the Stronelairg and Dunmaglass onshore wind farms," SSE said.

The new unit will  initially be led by SSE’s current managing director of generation, Jim Smith, who will be responsible for "the work being done to prepare for the formation of the new entity" which is expected to be completed by the end of March 2019.

SSE groups chief executive, Alistair Phillips-Davies, said: "The creation of SSE Renewables is the latest step in our strategic goal to give greater focus to renewable energy.’

In May 2018, the utility announced plans to invest more than €6.8 billion over five years in renewables and networks.

Then in September, the company bought the full ownership of the 1.5GW Seagreen offshore wind project in the Outer Firth of Forth, off Scotland, from partner Fluor for €131 million.