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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

SSE to invest £40bn in green energy as profits almost double

Power cables at an SSE training centre in Perth.
SSE said it would invest ‘far in excess of its earnings’ in clean energy. Photograph: Andrew Milligan/PA

SSE has set out plans to invest £40bn in clean energy over the next 10 years as it reported a near-doubling of its annual profits compared with the year before thanks in part to its fossil fuel power stations.

The Perth-based FTSE 100 company said it would carry out its record-breaking green energy plan by investing “far in excess of its earnings” after making an adjusted pre-tax profit of £2.18bn for the 12 months to the end of March, up from almost £1.16bn the year before.

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