ScottishPower announces £2bn UK investment

ScottishPower has announced it will spend £2bn in the UK in 2019 in its updated its investment plans following the sale of its thermal generation business and transition to 100 per cent renewable energy in 2018.

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.”

Between 2018-2022 ScottishPower will spend £6bn in the UK with 40 per cent of that on new renewable energy generation, 42 per cent on smarter enhanced networks and 15 per cent on innovative services and products for customers. The company will also invest in smarter services for customers, including products to unlock the market for electric vehicle ownership such as installing fast chargers across the UK at strategic commercial locations from winter 2019.

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