SSE Renewables has reported a 26% year-on-year increase in renewable energy output for the first nine months of its 2024/25 financial year, driven by adverse weather conditions and expanded capacity.
The Perth-based energy firm reaffirmed its full-year adjusted earnings guidance of 154–163p per share, aligning with its 2024 performance despite market volatility.
Barry O’Regan, SSE’s Chief Financial Officer, highlighted the company’s operational resilience: “We were able to provide a swift and effective response to Storm Eowyn, with our teams expertly managing widespread network disruption.”
The growth in renewables output follows capacity additions, including the 101MW Yellow River onshore wind farm and progress on the 208MW Strathy South project.
However, SSE shares have declined nearly 20% from their September 2024 peak, reflecting broader market concerns about energy pricing and returns on wind assets.
John Moore, senior investment manager at RBC Brewin Dolphin, noted SSE’s “strong position in a changing short-term market environment” despite near-term headwinds.
Looking ahead, SSE’s strategic investments include a planned £22bn in grid infrastructure by 2031 and advancements in its Dogger Bank offshore wind farm, set to deliver first power in late 2025.
