Scatec announces a NOK 100 billion business enterprise prepare in the direction of 2025
23 March 2021: At its Money Marketplaces Update these days, renewable company Scatec confirms its existing 4.5 GW potential goal for 2021 and raises its focus on to 15 GW by stop of 2025. The organization strategy is supported by Scatec’s keep track of file of sturdy expansion and a strong job pipeline across solar, wind, hydro and storage in significant-growth markets globally.
12 GW of new potential, from present-day 3.3 GW, will need NOK 100 billion in investments in accordance to organization estimates, of which NOK 15-20 billion will be funded by Scatec equity. Reliable extended term hard cash flows from operating ability crops and margins from advancement and design of new vegetation are predicted to fund a major portion of Scatec’s fairness investments.
“From the incredibly first day, Scatec has been a frontrunner in an increasingly dynamic renewables current market, and we continue to lead. In line with our broadened strategy, we are building renewable power answers and combining solar, wind, hydropower and storage to the reward of our rising client base of state utilities and substantial power customers,” says Raymond Carlsen, Scatec’s CEO.
Since its earlier Cash Marketplaces Update in 2019, Scatec has taken significant measures to broaden its business enterprise development things to do to make a worldwide leader in renewables. The challenge improvement footprint has been expanded to 35 countries, and the backlog and pipeline of initiatives has elevated from 4.2 GW to 11.9 GW in excess of the earlier two decades. In 2020, the organization acquired top hydropower participant SN Electric power, a transaction adding both of those scale and major cash move.
“Scatec is a pure renewable player. Our business product will continue to be centered exclusively on supply of reputable renewable electricity. Our competence and monitor record throughout renewable systems and in essential progress areas paired with our integrated business enterprise product and solid partnership emphasis, generate lasting competitive advantages,” states Carlsen.
The organization continues to be committed to its solid position in ESG, earning top rated rankings from foremost agencies.
“Our ESG ambition is forming an crucial section of our enterprise tradition. A major strategy to sustainability and ESG is not only a requirement. It mitigates chance, results in marketplace possibilities and a competitive benefit,” claims Carlsen.
Scatec intends to spend reliable and rising dividends to its shareholders. Dividends will grow with enhanced long expression dollars circulation, and the enterprise will from 2021 regulate its dividend policy to spend out a minimal of 25 % of the money distributions obtained from our running power crops.
Scatec’s robust and diversified belongings portfolio produces a solid platform for expansion in the decades to appear. Scatec and SN Energy sent a put together 2020 EBITDA of NOK 2.5 billion and energy manufacturing of 3,045 GWh. For the total 12 months 2021, the total proportionate electrical power output quantity is approximated to 3,500-3,700 GWh, up 20% from 2020. In the 1st quarter 2021, Scatec is anticipating to report proportionate EBITDA in the Electrical power Creation segment of NOK 660 – 680 million.
Webcast and shows
For more details, see the attached CEO introduction and monetary presentation. The agenda and the remaining presentation material are available on our internet site, like a unfold sheet with 2020 professional forma financials. The webcast starts off at 09:00 am CET and can be adopted from this hyperlink. You may perhaps post queries as a result of the webcast solution or electronic mail your issue in advance to [email protected].
For further more information, be sure to speak to:
Mikkel Tørud, CFO, tel: +47 976 99 144, [email protected]
Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364, [email protected]
About Scatec ASA:
Scatec is a top renewable electric power producer, providing cost-effective and thoroughly clean electricity worldwide. As a extended- expression participant, Scatec develops, builds, owns and operates photo voltaic, wind and hydro electrical power crops and storage remedies. In the 1st half of 2021, Scatec will have a overall of 3.3 GW in operation on 4 continents and additional than 500 staff members. The firm is focusing on 15 GW ability in operation or less than construction by the finish of 2025. Scatec is headquartered in Oslo, Norway and stated on the Oslo Stock Trade under the ticker image ‘SCATC’. To study more, visit www.scatec.com, or link with us on Linkedin.
This details is matter to the disclosure specifications pursuant to Portion 5-12 the Norwegian Securities Trading Act
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