11-04-2023 15:06

Scatec – pushes renewable energy in emerging markets

With Nordea by its side for the past 15 years, Scatec has been at the forefront of renewable power development in emerging markets. Today, it is a leading provider of solar, wind and hydropower, with 4.6 gigawatts of capacity in operation and under construction across four continents.

Terje Pilskog, CEO, Scatec.

“Our company was founded on the belief that it has an essential role to play in providing clean and affordable energy,” says CEO Terje Pilskog. “For the world to reach its climate targets, emerging economies must be part of the solution.”

Scatec has built a strong position over time, with over 700 employees and an EBITDA of NOK 2.3bn. As Scatec’s main bank, Nordea has played a key role in the company’s growth journey from the start, providing corporate lending, trade finance and support in raising debt and equity capital. Nordea helped finance Scatec’s USD 1.1bn acquisition of SN Power in 2021.

“We have a strong partnership with Nordea. We would like to thank the team for their leadership and work supporting the green shift,” says Terje Pilskog. He adds that it’s in Scatec’s DNA to continually seize new opportunities:

“Our integrated business model and partnership approach will continue to be at the core of what we do, whether it be in traditional renewables or related to green hydrogen.”

 

Everything we do begins and ends with our customers

Every day, we work to support our customers’ financial development, always acting within their best interests. Whether they wish to purchase a dream property, grow a start-up or transition to a greener business model, we have the financial strength and expertise to help them succeed.

This is a customer story from our 2022 Annual report. If you want to know more about our different business areas, have a look here. 

Short reads
Business growth
Annual Report