Author: PPD Team Date: 11/12/2024
SSEN Transmission, a subsidiary of SSE, plans to invest at least £22 billion ($28 billion) in grid infrastructure between April 2026 and March 2031.
The proposed investment aligns with the Revenue = Incentives + Innovation + Outputs (RIIO) framework established by energy regulator Ofgem.
SSEN Transmission has submitted its business plan, emphasizing the need for an investable framework with appropriate financial returns to support the unprecedented scale of decarbonization efforts.
The company has also outlined an additional £9.4 billion ($11.9 billion) in potential “uncertainty mechanism” expenditures, which could increase the total investment to £31.7 billion.
SSEN Transmission managing director Rob McDonald stated that the plan supports tens of thousands of jobs and positions Scotland as a key player in the transition to clean energy.
In October 2024, SSEN Transmission opened a new offshore hub in Inverness to strengthen the supply chain in the Highlands and enhance collaboration among companies working in the region.