Scatec Solar amasses US$140m-plus in private placement raise

September 25, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
Source: Scatec

Scatec Solar has raised NOK1.32 billion (US$146 million) in a private placement for its global solar pipeline.

The Norwegian firm allocated more than 11 million new shares at a price of NOK116 (US$12.84) each.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company said in a release that it does not intend to issue subsequent shares to shareholders not participating in the placement.

Scatec Solar said that the funds would go towards growth and to “near-term investments in large-scale projects” in particular.

Encouraged by strong demand, the firm recently expanded its solar pipeline target for 2021, inflating it by a gigawatt to 4.5GW.

The fresh funding rounds off a summer of global growth for the Norwegian developer. It switched on 47MW in Ukraine, 65MW of capacity in Egypt, 40MW in Mozambique and 66MW in Malaysia in July and August

The company claims to have 1.9GW of PV power plants in operation in total.

Read Next

November 12, 2025
The European Bank for Reconstruction and Development (EBRD) has increased its equity stake in Infinity by US$40 million.
Premium
November 12, 2025
Solar PV in Australia’s National Electricity Market (NEM) made a strong showing across October 2025, reaching 4,715GWh – a 9.88% increase on the 4,291GWh recorded in October 2024.
November 11, 2025
During a week marked by significant developments, ACME Solar and Reliance NU Energies win SJVN tenders while Emmvee launches IPO.
November 11, 2025
Hassan Allam Utilities Energy Platform and Infinity Power have signed agreements to develop two renewable energy projects in the country. 
November 11, 2025
Developer Pacific Energy has signed a 20-year power purchase agreement (PPA) with Horizon Power to deliver a hybrid power system to the town of Leonora in Western Australia's goldfields, aiming for up to 60% renewable energy penetration by 2027.
November 11, 2025
The Australian Renewable Energy Agency (ARENA) has committed AU$25.3 million (US$16.53 million) in funding to support PV cell technology startup SunDrive Solar's continued development of copper-based solar cell technology.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Lisbon, Portugal