ScottishPower Seeks Biggest Ever Supply Round Worth £5.4bn

ScottishPower has revealed a substantial £5.4 billion worth of contract opportunities as it embarks on the next phase of its electricity network investment. The latest initiative by its SP Energy Networks business marks the company’s largest-ever contract offering for capital goods suppliers, signalling significant investment in green energy infrastructure and job creation within the green sector, ultimately reinforcing the grid for the long term.

Anticipating a doubling of electricity demand in the next decade, the International Energy Agency emphasises the necessity for over 600,000km of new or upgraded electricity lines in the UK to meet future needs. As a division of the Bilbao-based global company Iberdrola, ScottishPower positions itself as a key player in driving green growth and currently presents multi-billion-pound contract opportunities to support its electricity network ambitions and contribute to a net-zero future.

ScottishPower CEO Keith Anderson underscores the magnitude of this initiative, describing it as the most significant overhaul of the grid since its inception. The investment plans aim to expand electricity networks, grow the workforce and provide substantial opportunities for the supply chain, fostering overall economic growth.

With a focus on the period up to 2034, the £5.4 billion portfolio encompasses transmission projects spanning central and southern Scotland. The objective is to connect 80 to 85 gigawatts of clean renewable energy to the GB transmission system, facilitating the movement of more green energy across the country and reducing reliance on fossil fuels. SP Energy Networks is actively encouraging companies with relevant skills and experience to bid for contracts related to the design, development and upgrade of strategic transmission infrastructure. This includes the construction of high voltage substations, overhead lines and various design, engineering and electrical works.

Vicky Kelsall, CEO of SP Energy Networks, underscores the significance of this infrastructure rollout in supporting the broader electrification of the economy. The company asserts having both the plans and financial capital for investment, positioning the UK supply chain to benefit significantly from this substantial opportunity.

Notably, in November, the UK government announced plans to expedite the construction of high voltage power lines and reduce grid connection times. These measures are part of a broader package aimed at supporting economic growth and solidifying Britain’s position as a leading destination for renewable energy investments.