Season’s greetings from Scatec

Dear friends and partners of Scatec,

Another year has passed, a year full of challenges, but first and foremost a year that is making me excited about the future for Scatec and for renewable energy.

World leaders, researchers, international organisations, businesses all agreed on one thing in 2021; we need more renewable energy, and we need a lot of it.

To reach net-zero the world needs annual additions of 630 GW solar PV, 390 GW wind power and 230 GW hydropower with a need for even more. In addition, we will see a massive demand for batteries, electrolysers for hydrogen and other storage solutions.

In other words, the world has a massive demand for renewable energy solutions, and that is what Scatec will offer.

Offering renewable energy solutions

2021 has been the year where Scatec has proven it is serious about becoming a renewable energy solutions provider, integrating SN Power with hydropower into our organisation, producing wind power and a pipeline with a wide range of technologies and innovative financing solutions like Release on offer.

What separate Scatec from a lot of other renewable energy companies is an established business model with a proven track record of providing solid long term returns from power production in high growth markets.

2021 has confirmed that our financial position remains solid. Despite delays in development of some projects due to the global situation, with a power production in 2021 2.5 times that of 2020.

Sustainability as a business model

As we grow, we need to further embed our core values of agility but also our responsibility to consider sustainability in everything we do.

This thinking is creating results, and we are very proud of coming up as number one amongst the 100 largest companies on the Oslo Stock Exchange at ESG reporting. Sustainability is at the center of everything we do in Scatec, and we work steadily to identify and manage ESG risks and impacts in our business and value chain. This recognition reflects the high priority sustainability is given in our company, and strong reporting is key to better monitor and measure our performance

All of this would not be possible without all of you, colleagues, partners, stakeholders and friends of Scatec. We have made great progress this year, and are ready to take on the challenges of 2022. I can’t wait for all the exciting opportunities ahead.

I wish you a joyful and relaxing holiday season, and a happy new year.

Raymond Carlsen,