SSE boosts renewable energy output by 26% despite weather challenges
SSE reported a 26% increase in renewable energy output for the nine months ending December 31, 2024, compared to the previous year. This growth was driven by more operational wind turbines, despite challenging weather conditions. The company announced plans for a new wind farm in the Scottish Highlands, named Strathy South, which will power around 220,000 homes. SSE also began generating power at its Yellow River wind farm in Ireland in December. Profit forecasts for the year ending March 2025 are slightly below analyst expectations, ranging from 153p to 163p per share. SSE's share price has dropped nearly 20% since September 2024, reflecting lower energy generation prices.