SSE forecasts about 20% rise in renewables output as capacity and weather improve

# What happened

SSE told investors in a trading update that its renewable generation is expected to be about 20% higher year‑on‑year. The company attributes the rise to a combination of more favourable weather conditions and growth in generation capacity.

# Why it matters

Higher renewable output affects near‑term earnings and resources available to supply customers. SSE links the increase to operational progress on major projects and a shift in earnings mix toward regulated networks, which lowers seasonality in interim results.

• Dogger Bank offshore wind: delivery continues to progress in line with expectations. Turbine installation on Dogger Bank B is beyond the halfway mark. No change to the programme or timetable was announced.

• Investment and networks: adjusted investment rose about 70% compared with the same period last year. The majority of that increase is in Transmission, where progress continues to accelerate across 11 major projects.

• Full‑year outlook and targets: business unit financial expectations for the full year remain unchanged and continue to be subject to weather, market conditions and plant availability. The group remains on track for adjusted EPS of 168–193p for 2026/27 and 225–250p for 2029/30.

• Balance sheet and investment guidance: capital investment for the group is expected to be around £2.5bn for the half‑year. Adjusted net debt and hybrid capital are expected to be about £11.5bn.

# What to watch next

• Winter months: SSE notes the key winter period is still to come, so actual output and financial performance will remain sensitive to weather and plant availability over coming months.

• Transmission project delivery: progress across the 11 major Transmission projects will affect capital deployment and the regulated earnings profile that SSE highlights as reducing seasonality.

# Bottom line

SSE expects materially higher renewable generation this year, driven by weather and added capacity, while continuing significant investment in transmission. Interim earnings guidance reflects a reduced seasonal swing as networks contribute more to earnings. The company's full‑year business unit expectations are unchanged, but results remain conditional on weather, markets and plant availability.