During 2019, ScottishPower will spend up to £2billion, our biggest ever investment in the UK in a single year.
When announcing this record investment ScottishPower CEO, Keith Anderson, said: "Our first investment plan since leaving coal and gas behind is a historic milestone for ScottishPower and is a vote of confidence in the UK’s commitment to decarbonising the economy. In a time of uncertainty the UK needs to deliver its Industrial and Energy strategy and that’s what we’re providing with our biggest ever investment in a single year.
“Now that we have sold our gas power stations our growth plans are about cleaner and smarter power that will help the UK to decarbonise faster and we have set out the part we will play in the transition to electrify the economy where it matters most now – in transport and in heating."
2018-2022 Investment Plan
- Between 2018 -2022 ScottishPower will spend £6billion in the UK:
- 40% on new renewable energy generation
- 42% on smarter enhanced networks
- 15% on innovative services and products for customers
- 50MW battery storage project at Whitelee the UK’s largest onshore windfarm - the first of a series of storage schemes, mainly located at windfarms and at strategic points on the network
- Develop a 1GW pipeline of onshore wind projects by 2025 – we see substantial opportunities for the continued development of onshore wind projects across Scotland and the UK
- Construction continues at pace for the East Anglia ONE offshore windfarm
- £2.5billion project, located 43km off the Suffolk coast
- 102 Siemens Gamesa turbines, each with a capacity of 7 megawatts
- Gained planning consent for East Anglia THREE windfarm for up to 1,200MW
- Planning consultations on the company’s next two large offshore windfarms in the East Anglia zone have begun - East Anglia TWO and East Anglia ONE North
- SP Energy Networks will continue to deliver smart and efficient grids capable of supporting the UK’s future energy needs
- Invest in smarter services for customers, including products to unlock the market for electric vehicle ownership
- A new public electric charging service based within our Retail division to install fast chargers across the UK at strategic commercial locations from winter 2019
This investment plan will support 300 new ScottishPower jobs in 2019.