SSE supplied 402GWh of renewables capacity to the UK and Irish grids in the nine months to end-December, 5% below expectations.
The utility said in its third quarter 2020/2021 trading statement that the reduction was “mainly due to wind resource” and the figure represents less than 4% of the annual forecast total output.
Wind output based on SSE’s contractual share includes 443GWh of compensated constrained off onshore generation in the nine months to 31 December 2020 and 308GWh in the same period in 2019.
SSE updated the market on its expectations for full-year 2020/21 adjusted earnings per share on 4 December 2020 and still expects that it will be in the 85 pence to 90 pence range, based assumptions that include “normal weather conditions prevailing for the final three months of the year”.
Developments highlighted in the trading statement include “good progress” being made on SSE’s five-year, £7.5bn investment and capital expenditure plan.
In November, financial close was reached on Dogger Bank A and B ahead of the 10% stake sale and continuation of construction at the Viking onshore and Seagreen offshore wind farms.
SSE continues to participate in seabed auction processes in order to deliver on plans to treble renewables output by 2030 and achieve a run rate of at least 1GW (net) of new assets a year during the second half of the decade.
This includes pre-qualification in January 2021 as part of a consortium for the Danish Thor offshore wind tender as SSE “seeks to bring its expertise” in the renewables value chain to international markets, where it sees value.
SSE finance director Gregor Alexander said: “With solid operational performance and strong strategic execution, SSE is well positioned as we move towards the end of our financial year.
“Our robust business model is mitigating the impact of coronavirus, our disposal programme is proceeding at pace and at Dogger Bank we have shown yet again that we can develop opportunities and create value from world-class assets.
“With a number of uncertainties lifting and an increasingly supportive policy environment which further underpins our clear strategic focus on the transition to net zero, SSE is on a strong strategic footing for the rest of 2020/21 and beyond.”