SSEZY SSE PLC (PK)

By Adriano Marchese

SSE PLC (SSE.LN) said Friday that it will build new wind turbines in Scotland and that it is on course to cease production at its last coal-fired power plant.

The FTSE 100 energy company said that it would invest in the construction of 11 new turbines at its Gordonbush onshore windfarm in north Scotland. It also said that it is on track to cease production at its last coal-fired generation plant at Fiddlers Ferry in England by the end of March 2020.

It said that work is continuing on the sale of gas production assets, but noted that a transaction wouldn't be completed in fiscal 2020.

SSE said it continues to expected adjusted earnings per share--a metric which excludes exceptional costs--for fiscal 2020 to be in the range of 83 pence and 88 pence but cautioned it is subject to hydro and wind assets benefiting from normal weather conditions.

"The first nine months of the financial year have been generally positive for SSE, and we are on course to deliver our fiscal 2020 financial forecasts," Finance Director Gregor Alexander said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 31, 2020 02:39 ET (07:39 GMT)

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