Perth, Scotland [RenewableEnergyWorld.com] Having completed its acquisition of Airtricity Holdings Limited, Scottish and Southern Energy (SSE) has completed a review of its renewables plans and investments. When it entered into the agreement to acquire Airtricity, SSE said it expected to have over 3500 megawatts (MW) of operating renewable capacity in the UK and Ireland in 2013. However, following review SSE now expects this to be around 4000 MW, doubling its current capacity.
Depending on the necessary approvals, SSE expects its portfolio in 2013 will comprise close to 1500 MW of hydro, approximately 2000 MW of onshore wind, more than 250 MW of offshore wind and approximately 250 MW of waste-to-energy and biomass projects. The company estimates that delivery of over 2 gigawatts (GW) of renewable capacity in the UK and Ireland by 2013 is likely to require capital investment of over £2.5 billion [US $5 billion] over the next five years with investment currently expected to peak in 2010-2011.
Looking ahead, SSE also has close to 1000 MW in wind farm capacity in the UK and Ireland that is at an advanced stage in the planning process. The company also has slightly more than 400 MW of onshore wind and hydro capacity in development or under construction. SSE is also expecting to invest around £500 million [US $1 billion] in renewable energy in new markets and technologies over the next five years.
“The acquisition of Airtricity has given SSE a stronger platform from which to deliver renewable energy in the UK, Ireland and Europe — and in China as well. The range of investment opportunities in renewables which we now have will contribute significantly to the growth of SSE over the next decade,” said Ian Marchant, CEO of SSE.