SSE PLC (LSE:SSE)’s renewable wing inched closer to receiving approval for the UK’s largest offshore wind farm this weekend, as planners agreed to assess proposals for its onshore substation.
East Lothian Council accepted proposals for a transmission station to process electricity from the proposed 4.1GW wind farm to be built off Scotland’s east coast.
If approved, the Berwick Bank wind farm could power more than five million homes from 307 turbines, according to SSE, with generation set to begin in 2027.
SSE made headlines last week as it raised earnings guidance by 10p per share to 160p, hinting it had enjoyed a bumper year after gas dragged electricity prices up.
It did admit to renewable production shortfalls though, missing targets by 13% in March due to poor weather conditions, but this is unlikely to hit its full-year results on 24 May given significantly wider margins gained by electricity generators over the past year.
The Scottish government is aiming for 11GW of floating and fixed offshore wind power by 2030, meanwhile, to which SSE claims its Berwick Bank project could contribute a significant amount.