SSE Jumps as £2 Billion Share Sale Lifts Clarity on Growth Path

SSE Plc jumped to a record after the utility outlined a £33 billion ($43 billion) plan to upgrade grids and boost renewable energy that will be partly funded by issuing new shares.

The spending update brings clarity to investors and analysts who have sought more details on how the UK utility plans to fund its ambitious goals in the years ahead. Shares soared as much as 13% in London, the most in five years.

With the share-sale proceeds of £2 billion accounting for only a small portion of SSE’s planned grid investments, most of the cost will still be added ...