Scatec appoints new CEO as Raymond Carlsen steps down after 13 years

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Raymond Carlsen (left) and Terje Pilskog. Image: Scatec.

Raymond Carlsen is stepping down as CEO of independent power producer (IPP) Scatec after 13 years in the role, to be replaced by the company’s EVP of project development, Terje Pilskog.

Pilskog, 51, will take charge of the Norway-headquartered company on 1 May and will work to deliver its strategy of reaching 15GW of renewables in operation or under construction by the end of 2025, up from more than 3.5GW currently.

Having previously worked at consultancy McKinsey & Company and then Renewable Energy Corporation, where he held various management positions, Pilskog joined Scatec in 2013.

John Andersen Jr., chairman of Scatec’s board of directors, said Pilskog’s appointment is the result of a thorough process, with his candidature benchmarked against both internal and external candidates. “Terje Pilskog has been instrumental in the strategic development of Scatec and has first-hand experience with both the commercial and operational aspects of the company.”

Andersen thanked Carlsen for his leadership over the past 13 years, describing him as “a driving force behind the development of Scatec from a small niche player in solar power into the well-recognised provider of renewable energy solutions it is today”.

Before joining Scatec as CEO in 2009, Carlsen, 67, was a partner at Aker ASA, responsible for developing the industrial investment company’s portfolio of energy-related businesses.

Boosted by its US$1.1 billion acquisition of hydropower developer SN Power, Scatec’s revenues in 2021 jumped 62% year-on-year to NOK4.62 billion (US$525 million), while EBITDA more than doubled to NOK2.69 billion (US$305 million).

Reporting its 2021 results last month, Scatec revealed its backlog of projects totals more than 2GW –  including solar plants in markets such as Brazil, South Africa and Tunisia.

Since then the company has formed a joint venture with India’s ACME Group that will develop, own and operate a green ammonia facility in Oman, the first phase of which will have 300MW of electrolyser capacity and be powered by 500MW of solar.

Days later Scatec signed a memorandum of understanding with a group of partners to co-develop Egypt’s first large-scale green ammonia project.

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