SSE PLC

Capital/Financing Update • Aug 29, 2023

National Storage Mechanism | Additional information

RNS Number : 7079K

SSE PLC

29 August 2023

SSE PLC

SSE ISSUES €750m GREEN BOND

SSE plc has successfully issued a €750m 8-year green bond maturing 5 September 2031 at a fixed coupon of 4.0%.

Today's issuance is SSE's largest senior single tranche and sixth green bond in seven years and reaffirms its status as one of the major issuers of green bonds from the UK corporate sector. This latest issuance brings SSE's total issued green bonds to over £3.2bn. 

SSE continues to make progress with delivery of its enhanced £18bn Net Zero Acceleration Programme Plus, set out in May 2023, which will see it more than double its renewables capacity by 2027 whilst increasing investment in the regulated network infrastructure that connects low carbon generation to homes and businesses. The green bond proceeds are earmarked to help finance and/or refinance SSE Renewables projects currently under construction or recently completed such as Viking and Seagreen wind farms, as well as the world's largest offshore wind farm at Dogger Bank.

Gregor Alexander, SSE's Finance Director, said: "As a regular issuer of green bonds SSE continues to show leadership in supporting sustainable finance, with the significance of this type of instrument helping to attract more capital and the drive progress towards net zero.

"Today's new green bond has been extremely well received on a busy day in the bond markets and was close to three times oversubscribed. This new issuance is consistent with our commitment to maintaining a strong balance sheet and will help us deliver £18bn of investments under our enhanced Net Zero Acceleration Programme."

Notes

SSE's recently published Sustainability Financing Framework can be found at https://www.sse.com/SustainabilityFinancingFramework, along with DNV's Second Party Opinion on the new Framework.

Enquiries
Investors	SSE Investor Relations	ir@sse.com	Michael Livingston	+44 (0)345 0760 530
Media	SSE Media	media@sse.com	Glenn Barber Raymond Buchanan	+44 (0)345 0760 530
	MHP Communications		Oliver Hughes	+44 (0)7885 224 532
			James McFarlane	+44 (0)7584 142 665

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