GS Utilities Daily SSE receives repayment of its £237.3m outstanding loan note with OVO Cutting offshore delays could sav...

Equity Research 9 October 2026 | 8:52AM CEST

GS Utilities Daily: SSE receives repayment of its £237.3m outstanding loan note with OVO // Cutting offshore delays could save c.€110 mn over

Alberto Gandolfi | Goldman Sachs Bank Europe SE - Milan branch

Ajay Patel | Goldman Sachs International

Mafalda Pombeiro | Goldman Sachs International

Dhwani Khenwar | Goldman Sachs India SPL

Lawrence Lavizani | Goldman Sachs International

Liam Brueckner | Goldman Sachs International

Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by non-US affiliates are not registered/qualified as research analysts with FINRA in the U.S.

Goldman Sachs GS Utilities Daily

Research you can’t miss from past two weeks Utilities in Germany, Iberia, Italy, Denmark: Results Previews: preparing for another strong quarter

Siemens Energy: New buyback points to a returns of value acceleration

Public Power Corp.: Major DC deal announcement with Amazon, a positive; Buy

Drax Group: Trading statement points to EBITDA consensus upgrades; maintain Buy

European Utilities: The Datacenter Dislocation

SSE receives repayment of its £237.3m outstanding loan note with OVO

SSE announced yesterday that it received full repayment of its £237.3m outstanding loan note with OVO. The repayment will contribute to the ~£2bn disposal proceeds targeted under the five-year plan to 2030. The loan note was originally put in place as part of the disposal of SSE Energy Services to OVO Group Limited on 15 January 2020. The note became repayable in full following clearance by the Competition and Markets Authority on 1 October 2026 over the anticipated acquisition by E.ON SE of OVO Energy Limited. Source: Press Release

Cutting offshore delays could save c.€110 mn over 25 years for 1 GW farm

A new study has found that reducing wind approval timelines by one year could save, for a 1 GW project, over a lifetime of 25 years as much as c.€110 mn. The study finds that longer development timelines stemming from delays to grid connection, planning create significant additional financial risk. Source: Renews

Other news BESS: according to a new report by Wood Mackenzie, four-hour utility-scale battery energy storage systems (BESS) are now less expensive than open-cycle gas turbines across all 43 global markets modelled. Single-axis tracker solar is the lowest-cost generation technology in 43 of the 48 markets modelled. (Wood Mackenzie)

Germany: the Offshore Wind Energy Association (BWO) requested improvements to the Offshore Wind Energy Act’s (WindSeeG) draft amendment during the parliamentary process, asking for single-stage contracts for difference (CfD) auction framework with indexation and economically viable maximum bid values. It also proposed a mechanism for at-risk projects awarded in 2023-2025 to be returned and retendered. (Renews)

Italy: a former Minister of Economic Development has reportedly accused major domestic energy utilities of manipulating the wholesale power market through their hydroelectric assets, confirming that he will file formal complaints with the Italian authorities and market regulators. (ANSA)

South Korea unveiled its 10-year Korea-Green Transformation (K-GX) Strategy (2026– 2035), committing KRW 1,000 trn (c.€665 bn). Key goals include scaling domestic renewables energy infrastructure to 100 GW by 2030 ahead of schedule and having zero-emission vehicles accounting for more than 70% of new sales by 2035. (ESGtoday)