Energy firm SSE announces 拢1.5bn operating profit

Energy company SSE has announced an operating profit of 拢1.5bn, a 15% year-on-year increase.

The Perth-based firm plans to invest more than 拢15bn in Scotland's energy infrastructure this decade to help boost provision of clean energy.

The investment includes new offshore wind, carbon capture and storage, and hydroelectric power.

SSE chief executive Alistair Phillips-Davies said the company was "only just getting started."

The firm said that assuming a "continued supportive policy environment", it would invest significantly more than it makes in profits over the next few years.

SSE said it was developing Scotland's largest, and the world's deepest, tethered offshore wind farm, Seagreen off the coast of Angus; and what will be one of Europe's most productive onshore wind farms, Viking, on Shetland.

Earlier this year it was confirmed the business had secured rights to develop a new giant floating offshore wind farm off the coast of Angus.

It is also constructing the electricity cable which will connect Shetland to the UK mainland for the first time, securing the islands' energy supply and transporting renewable energy to the national electricity grid.

Mr Phillips-Davies said: "We have plans to invest more than 拢15bn in Scotland and in excess of 拢24bn in Britain alone by 2030 to help deliver government's ambitious targets.

"These results demonstrate the strength of our strategy and highly complementary business mix, the passion and commitment of our people, and our ability to deliver for all our stakeholders as we create thousands of jobs and contribute billions to Scottish GDP."