SSE says the UK should target 40GW of offshore wind by 2030 and 75GW by 2050 as part of a ‘green’ economic strategy for the country to recover from the impact of Covid-19.
The offshore wind goal was outlined in the company’s ‘Greenprint for building a cleaner, more resilient economy’, which is a five-point action plan submitted to the UK government.
The report recommends the government should green light billions of pounds of private investment in low-carbon infrastructure, commit to a net zero power sector by 2040 and help get the UK on track to meet its climate action commitments.
A green fiscal rule which properly puts a high price on carbon emissions will incentivise the switch to cleaner power, the company added.
SSE said the success of the Contract for Difference regime should be built on to attract more low-carbon investment in new and repowered renewables, life extensions to projects and energy storage.
The Greenprint also calls for five carbon capture and storage plus hydrogen power clusters by 2030, as well as investment in transmission.
There should also be an acceleration of the deployment of electric vehicle charging infrastructure and the ban on petrol and diesel vehicles should be brought forward to 2030, SSE said.
It also called for stimulus for green buildings, including low-carbon heat incentives, that would generate jobs.
“With public finances more stretched than ever in the wake of coronavirus, attracting private sector investment and channelling it into the right areas will be vital,” the company said.
SSE added that it has written to the Prime Minister Boris Johnson, the Treasury and the Department for Business, Energy, Innovation and Skills about the proposals.
SSE chief executive Alistair Phillips-Davies (pictured) said: “This moment in time is pivotal on many levels, that’s why now its even more important to double down on climate action.
“Coronavirus has demonstrated only concerted, focused effort can solve a crisis – and that goes for the climate emergency too.
“We stand ready to invest billions in the coming years and want to play a key role in the UK’s recovery.
“We are unashamedly biased in promoting practical, deliverable solutions that could help unlock this investment from ourselves and others.
“Our five-point action plan is focused on stimulating growth and investment to leave a legacy of a cleaner, more resilient UK economy for the future.”
Phillips-Davies added that while tackling coronavirus continues to be the national priority, the climate emergency has not gone away and a failure to deal with it could be an even greater challenge.
He said: “While it is still too early to predict with confidence the full human, social and economic impact of coronavirus, we can say with certainty that significant investment will be needed to rebuild the UK economy in its wake.
“Although not as immediately felt as those from coronavirus, the impacts from a failure to deal with climate change could be even greater – that’s why delivering on the UK’s net zero emissions target by 2050, and 2045 in Scotland, is as important as ever.
“Low-carbon investment is a win-win: providing a vital economic boost, creating skilled, sustainable jobs in all UK regions to support a just transition, improving air quality and building our resilience while also driving progress towards our climate change targets.”