SSE, the UK renewable power generator and network operator, said today it will stick with plans to invest £7.5 billion in low-carbon projects over the next five years, and also maintain its dividend schedule.
"Whilst the wider economic implication of the coronavirus continues to impact on the business, we've been progressing our £7.5 billion capex plan of low-carbon investments, primarily in renewables and electricity networks," SSE said.
The company is anticipating a hit to profits of £150-250m this financial year due to the coronavirus pandemic, which has led to drop in demand for energy.
SSE has turned its focus to renewable power generation and networks after selling its household energy supply and services arm to OVO Energy at the beginning of the year in a deal worth £500m.
The company has a number of renewable projects in development and earlier this month sold a 51% stake in its Seagreen 1 British offshore wind farm project to oil major Total.
SSE said it also intended to continue with its five-year dividend plan to 2022/2023, with an interim dividend of 24.4 pence to be declared in November 2020 for payment in March 2021