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

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.

3 November 2026
Málaga, Spain
Understanding PV module supply to the European market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Premium
May 29, 2026
PV Talk: India’s renewable market is shifting toward dispatchability as standalone solar faces mounting intermittency pressure and storage moves to the centre of new procurement models.
May 29, 2026
The Iran war energy shock will “reshape” global energy investment strategies, according to the executive director of the International Energy Agency (IEA).
May 29, 2026
Zelestra has completed the sale of its Latin America platform to Promigas in a deal valued at approximately US$1.1 billion.
May 29, 2026
BHP and Yindjibarndi Energy Corporation (YEC) will assess potential large-scale energy solutions for iron ore operations in Western Australia's Pilbara region.
May 29, 2026
Melbourne-based developer Enervest has delivered what is claimed to be one of Australia's largest floating solar installations, built to offset the energy costs of pumping drinking water in regional Victoria.
May 28, 2026
India added around 14.2GW of solar energy capacity in the first quarter of 2026, a roughly 95% increase from the previous quarter, according to Indian research firm JMK Research.

Upcoming Events

Media Partners, Solar Media Events
June 2, 2026
Johannesburg, South Africa
Media Partners, Solar Media Events
June 3, 2026
National Exhibition and Convention Center (Shanghai)
Solar Media Events
June 16, 2026
Napa, USA
Media Partners, Solar Media Events
June 30, 2026
Sacramento, California
Media Partners, Solar Media Events
August 25, 2026
São Paulo, Brazil