SSE is hosting an event for analysts and investors today (Wednesday 27 June) and tomorrow in Glasgow and at Clyde wind farm to present its approach to managing its large capital projects. SSE will set out the way it works to ensure that such projects are governed, developed, approved and executed in an effective manner.
SSE expects its capital and investment expenditure to total just over £1.6bn in 2012/13 and to be between £1.5bn and £1.7bn in 2013/14 and in 2014/15. Since the start of this financial year on 1 April 2012:
Gregor Alexander , Finance Director of SSE , said:
“SSE’s investment in large capital projects is delivering a significantly expanding asset base which is supporting secure and lower carbon energy supplies in Great Britain and Ireland. It is also earning the returns that are necessary to sustain future investment and to meet SSE’s target of annual above-inflation increases in the dividend payable to shareholders, including an increase of at least 2% real in respect of 2012/13.
“We expect that capital and investment expenditure will continue to be significant for the next few years, which means maintaining ongoing rigour in how projects are managed is vital. Our capital markets day will show that the SSE team has the experience, skill and commitment necessary to continue to make sure that investments are successful in operational, financial and strategic terms.”
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Offshore WIND staff, June 27, 2012; Image: SSE