SSE Cuts Renewable Goals, Spending in Blow to UK 2030 Target

SSE Plc cut its five-year spending program by £3 billion ($4 billion) and rowed back a forecast for renewables growth as planning delays stymie projects.

The investment program now totals about £17.5 billion, the UK utility said Wednesday. The company booked a multimillion-pound impairment on clean-energy projects in southern Europe, reflecting a build-out that’s slower than planned because of sector-wide holdups to permitting and grid connections.