Due to windier weather circumstances across the UK, ScottishPower Renewables announced a boost in earnings to £250 million (€296 million) in Q1 2022. EBITDA climbed by 19.5 percent to £41 million years over year, owing to higher output (£16 million) and higher energy prices. Because of windier weather conditions throughout the UK, onshore wind generation surged by 43% in the first 3 months of 2021.

The East Anglia Hub, a 2900MW project that will see 2 new offshore wind complexes, East Anglia Two and East Anglia One North, built 37 kilometers off the coast of Lowestoft, received planning consent in Q1. Scotwind also had a successful auction, with seabed rights for 3 offshore projects totaling 7GW won.

Kwasi Kwarteng, the BEIS Secretary, said both projects had a “strong case” and gave his permission subject to a variety of conditions, including changes to the draft permit orders.

“Given the national necessity for the advancement, as laid out in the relevant NPSs,” a determination statement for the EA1 North project noted, “the Secretary of State doesn’t really feel that this is exceeded by the Proposed Development’s possible detrimental impacts.”

“The Secretary of State has evaluated all of the virtues and drawbacks of the Proposed Development and found that, on balance, the Proposed Development’s benefits outweigh its negative impacts,” according to the EA2 project’s decision letter.

ScottishPower’s offshore wind pipeline now stands at more than 10GW, thanks to two large-scale floating initiatives in cooperation with Shell as well as one solo fixed project. It has gained provisional clearance from Ofgem for the building of a 2GW electricity transmission line connecting Scotland as well as the northeast of England, that will be operational in 2027.

“Decarbonization and ensuring green energy reliability have never been more vital,” said ScottishPower CEO Keith Anderson, “as we see unprecedented global gas prices hitting every house and company in the UK.”

“Our first quarter saw onshore wind generation climb by over 40%, highlighting the enormous role it has to perform in providing for the GB energy industry moving forward, alongside offshore wind and our anticipated investments in innovative technologies such as battery storage and green hydrogen,” said ScottishPower. “The magnitude of this problem is too big for one sector to deal with, and that’s why we feel we require a new approach,” he says.

However, UK households are experiencing an unprecedented cost-of-living crisis, which is only expected to worsen in October as energy costs are expected to rise further.

“The scope of this problem is too huge for one industry to deal with, which is why we feel we need a new strategy. Government, consumer groups, and industry are all in agreement that something ought to be undertaken to lessen the blow for consumers – it’s time to think outside the box on the issue.”

Leave a Reply

Your email address will not be published. Required fields are marked *