Finance
UK power firm SSE to invest up to $1.28 billion for Scottish subsea cable upgrade
Published by Global Banking & Finance Review®
Posted on February 17, 2026
1 min readLast updated: February 17, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 17, 2026
1 min readLast updated: February 17, 2026
SSE plans a $1.28 billion investment to upgrade the Scottish subsea electricity network, partnering with five companies for a five-year project.
Feb 17 (Reuters) - British power firm SSE said on Tuesday its electricity distribution unit has selected five contract partners for an investment up to 950 million pounds ($1.28 billion) to upgrade subsea electricity network connecting Scotland's island communities.
SSEN Distribution said the agreements with Briggs Marine, DOF Subsea UK, N-Sea, Enshore Subsea and Jan De Nul will run for an initial five-year period, with an option to extend for three more years.
($1 = 0.7398 pounds)
(Reporting by Ankita Bora in Bengaluru; Editing by Shailesh Kuber)
Investment refers to the allocation of resources, usually money, in order to generate income or profit. In the context of infrastructure, it often involves funding projects that improve public services or utilities.
Renewable energy is energy derived from natural processes that are replenished constantly, such as solar, wind, and hydroelectric power. It is considered more sustainable than fossil fuels.
Infrastructure financing involves funding for the construction and maintenance of essential facilities and systems, such as transportation, utilities, and communication networks, often through public-private partnerships.
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