SSE is planning to invest £340m on renewables in the next financial year out of total capital and investment spend of £1.7bn.
Overall investment for 2017/18 will be similar to the current year, the utility said ahead of its full year results. The figures will be published on 17 May.
Around 45% of the planned investment will be for economically-regulated electricity networks.
SSE’s rising investment in wind energy should be reflected in adjusted earnings per share and dividend cover towards the end of the decade, it said.
The company expects its wholesale operating profit to be higher in 2016/2017 than in the previous year despite lower renewable energy output.
“The operating environment has presented SSE with a number of complex issues to manage, but in this financial year we have been able to offset the impact of disappointing renewable energy output caused by drier and less windy weather conditions, and we are on course to deliver adjusted earnings per share of between 122 pence and 125 pence,” finance director Gregor Alexander said.
Image: SSE
