SSE reveals renewable plans

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Scottish and Southern Energy (SSE) has revealed its proposed targets for renewable energy development in the next five years.

The company, which is one of the UK's leading gas and electricity suppliers, has said it hopes to pass its renewable energy capacity milestone of 20,000 megawatts this month.

It has also stated that it is to spend around £2.5 billion of capital on renewable projects before 2013, while it is also planning to invest £500 million of equity in new markets and technologies over the same period.

SSE chief executive Ian Marchant said that the proposed targets were "realistic and achievable".

The company is also on course to become "an internationally significant player in the renewables sector", he added.

News on SSE's renewable energy targets has come after the energy supplier recently raised its domestic gas and electricity prices by 15.8 per cent and 14.2 per cent respectively.

The company blamed the increases on rising wholesale energy costs.

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