SSE Wins 1.4GW CfD for Berwick Bank Offshore Wind Project

An update from SSE ( (GB:SSE) ) is now available.

SSE has secured a 20-year UK Contracts for Difference agreement for 1.4GW of low-carbon power from Phase B of its Berwick Bank offshore wind farm, locking in a strike price of £89.49/MWh (in 2024 prices, indexed to CPI) for 1,380MW of capacity. The award allows SSE to move Berwick Bank B towards a final investment decision expected in 2027, while leaving the A and C phases—bringing the full project to 4.1GW—for future auction rounds. If fully built, Berwick Bank would rank among the world’s largest offshore wind projects and represent a major contribution to UK and Scottish offshore wind targets, strengthening SSE’s role in delivering large-scale renewable capacity and long-term value for consumers, society and shareholders.

The most recent analyst rating on (GB:SSE) stock is a Buy with a £28.00 price target. To see the full list of analyst forecasts on SSE stock, see the GB:SSE Stock Forecast page.

Spark’s Take on GB:SSE Stock

According to Spark, TipRanks’ AI Analyst, GB:SSE is a Outperform.

SSE’s overall score is driven by a strong strategic investment plan and positive technical indicators. However, financial performance concerns, particularly in cash flow management, and a relatively high valuation temper the outlook. The company’s proactive corporate events and earnings call insights provide a positive strategic direction, supporting a favorable long-term view.

To see Spark’s full report on GB:SSE stock, click here.

More about SSE

SSE plc is a UK-based energy company focused on developing, owning and operating low-carbon power infrastructure, with a particular emphasis on offshore wind projects that support the country’s transition to cleaner, homegrown electricity generation.

Average Trading Volume: 3,850,196

Technical Sentiment Signal: Buy

Current Market Cap: £27.76B

Find detailed analytics on SSE stock on TipRanks’ Stock Analysis page.