SSE to invest £40bn in green energy as profits almost double

Firm pledges record-breaking investment over next decade as earnings from gas-fired power plants surge near-fourfold

SSE has set out plans to invest £40bn in clean energy over the next 10 years as it reported a near-doubling of its annual profits compared with the year before thanks in part to its fossil fuel power stations.

The Perth-based FTSE 100 company said it would carry out its record-breaking green energy plan by investing “far in excess of its earnings” after making an adjusted pre-tax profit of £2.18bn for the 12 months to the end of March, up from almost £1.16bn the year before.