ScottishPower Unveils $6.84 Billion in Electricity Network Investment

Power lines in Scotland

(Credit: ScottishPower)

by | Jan 16, 2024

This article is included in these additional categories:

ScottishPower is enhancing its electricity network with $6.84 billion worth of contract opportunities for green energy infrastructure needed to strengthen the United Kingdom grid as it adopts more renewable energy sources.

Contract opportunities are expected to include projects across central and southern Scotland, helping connect 80 gigawatts to 85 gigawatts of clean energy to Great Britain’s transmission system. The U.K. government also recently announced plans to support acceleration of high-voltage power lines, working to halve the time it typically takes to complete such projects.

Much of the financing will reportedly go toward new high-voltage substations and overhead line construction as the company’s grid business, SP Energy Networks, works to upgrade new and existing transmission infrastructure. The International Energy Agency expects the U.K. will need over 370,000 miles of new or upgraded electricity lines to meet its power needs within the next 10 years.

“We’re kickstarting the largest overhaul of the grid since its inception,” said Keith Anderson, CEO of ScottishPower. “It is vital we get serious about getting on with the job of consenting and getting this new grid built so that we can take advantage of clean green renewables, transport it around the country and lock in our energy security and maintain the U.K.’s track record in leading on decarbonization.”

Grid Updates Required as U.K. Renewables Projects Face Backlog

In terms of clean energy development, the U.K. has gained attention for its many offshore wind energy projects and newly-announced commitment to rapidly expand domestic nuclear energy generation. Yet, as clean energy companies take on various projects in the U.K., many have reportedly been forced to wait to connect to its electricity grid.

According to a Guardian report, some wind, solar, and battery projects expect to wait up to 15 years for the UK electricity grid to be able to adopt renewables — the U.K. reportedly has the longest wait to connect to the electricity grid of any country in Europe.

The ScottishPower investment should help address the backlog of renewables available to supply electricity to the grid amidst growing demand in the region. The U.K. also claims that its recent grid investments and reforms should cut delays from five years to six months.

“This is one of the most significant infrastructure rollouts to upgrade the grid to support the electrification of the wider economy,” said Vicky Kelsall, CEO of SP Energy Networks. “We’ve got the plans and we’ve got the financial capital to invest, and the UK supply chain stands ready to benefit to the tune of billions.”

Additional articles you will be interested in.

Stay Informed

Get E+E Leader Articles delivered via Newsletter right to your inbox!

This field is for validation purposes and should be left unchanged.
Share This