ScottishPower’s £2 B for contract awards and investment spend
ScottishPower has delivered a £1 billion boost for the energy supply chain and over £1.1 billion in investments in the first six months of 2024.
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UK, Scotland: ScottishPower has delivered a £1 billion boost for the energy supply chain and over £1.1 billion in investments in the first six months of 2024. More precisely, the supply chain contracts have been awarded to more than 550 companies this year, delivering jobs across industries.
The aspects of the energy supply chain benefiting include transformers, turbines, monopiles and maintenance contracts. The company continues its £12 billion ($15.4 billion) investment programme through to 2028. The announcement comes as the UK Government outlined plans to accelerate investment in the electricity sector, with planning reforms aimed at spurring economic growth and enhancing energy security.
Keith Anderson, ScottishPower CEO, said: “The energy sector is one of the UK’s biggest growth drivers and we’ve injected over £2 billion into the economy over the first six months of this year. This shows how businesses big and small, right across the supply chain, can benefit from the country’s clean power mission. These contracts and investments mean jobs and an economic boost for Britain, alongside the very important role of delivering the modern electricity system needed for the future. We’ve seen a solid financial performance in the first half of the year, driven by our long-term investments in the clean energy assets Britain needs to deliver energy security and affordable power for decades to come. Our investment strategy is closely aligned with the UK’s ambitions to be a clean energy superpower and we continue to progress our high-quality project pipeline across grids, renewables and clean energy technologies. With £12 billion to invest to 2028, we’re delivering jobs, delivering supply chain contracts and helping deliver the economic prosperity the UK needs to get growing again.”
Source: ScottishPower