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.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
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.
