SSE mulls fundraising options - report

(Sharecast News) - Power generator and network operator SSE is reportedly mulling various funding options, as it looks to bolster its balance sheet and fund grid spending. According to Bloomberg, options being explored with advisors include a share sale that could raise billions.

Details, however, have yet to be finalised, Bloomberg said in a report on Sunday, citing unnamed sources.

SSE declined to comment on the report.

The blue chip is expanding rapidly into renewable energy generation, including wind and solar, and investing heavily in grid connections. Earlier this year it unveiled plans to invest around £3bn in the current financial year under its Net Zero Acceleration Programme.

It also announced a 60% increase in grid spending over the first half to £1.1bn, after winning approval for three major transmission projects.

Perth-based SSE is due to publish interim numbers on Wednesday.

As at 0815 GMT, the stock largely flat at 1,872p.