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

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.

26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 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

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Sydney, Australia