A frontrunner in renewable energy

Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in high growth markets. As a long-term player, we develop, build, own and operate renewable energy plants, with 4.6 GW in operation and under construction across four continents today. 

We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. 

Growing renewables

Towards 2027 we will continue to grow our renewables capacity, targeting NOK 500-750 million in annual gross equity investments. Solar PV, wind and BESS will make up the largest share of our investments due to its complementary profiles and attractive fundamentals. We will utilise our competitive integrated business model and stay committed to delivering attractive returns of 1.2 times the cost of equity, D&C gross margins of 8-10% and O&M margins of 25-30%.

We aim to build stronger and longer-term positions in selected emerging markets, where we see a clear green agenda and potential to build scale and apply our proven model. We are ramping up growth in South Africa, Egypt, Brazil and the Philippines where we have a strong track record and operational portfolios, while we are building positions in India and Poland. Beyond these focus markets, we will maintain our opportunistic approach, applying strict guidelines on potential projects in terms of size and value creation.

Scatec will further grow selectively in green hydrogen and hydropower. Our green hydrogen efforts are focused on Egypt where we have secured projects with excellent renewable energy resources and export hubs to Europe. Within hydropower, Scatec’s JVs with Aboitiz in the Philippines and Norfund and BII in Hydro Africa are exploring attractive growth opportunities.

Optimising the portfolio

We further seek to optimise our portfolio through capital recycling and deleveraging on a corporate level. Our capital recycling rationale is two-

fold; we will exit selected non-core markets to consolidate the portfolio as illustrated by Scatec’s recent divestments of Mozambique, Rwanda, and Argentina. Our commercial focus may also lead to selective divestments or farm-downs in our focus markets if it is value creative and does not harm our strategic position, exemplified by the sale of Upington in South Africa.

Our role on the pathway to net zero

Renewable energy companies have an important role to play in supporting the world to achieve its climate targets. Reducing greenhouse gas emissions will require investment, innovation, technology, and a cultural shift. We have set ourselves a net zero climate target that is validated and approved by the Science Based Target Initiative (SBTi).

We believe that emerging markets are essential in this journey. At Scatec, we create opportunities for emerging markets through renewable energy – not only as they work towards the clean energy transition, but also to boost their economies, create jobs and meet growing energy needs.

We are passionate about what we do and the role we play in delivering clean and affordable energy, and across our globally dispersed teams we call ourselves ‘changemakers’.

We know that with the right people and the right focus, we can improve the future. This work has already begun with our strategic actions towards 2027, and it’s what will take us far beyond, into the net zero future.

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Our culture shall be driven by values, performance and competence.

We have identified four core corporate values to help define our culture and govern our business activities:


  • Predictable
  • Driving results
  • Changemakers
  • Working together


In a rapidly changing market environment, predictability is an important feature of a business relationship. We see it as our task to deliver on our promises and meet the expectations placed on us. For this, we use our know-how and experience. Consistent performance and reliability finally leads to confidence.

Predictable means that we…

  • deliver on commitments
  • communicate in an open and precise way
  • bring up ethical issues and challenges immediately

Driving results:

Determination is vital to succeed in the renewable industry. Driving results are therefore a fundamental value in our corporate culture.

Driving results means that we…

  • set ambitious targets
  • show endurance, follow through and pay attention to important details
  • strive simplicity and clarity, avoid activities not adding value
  • continuously develop sound expertise, demonstrate commercial awareness and customer orientation



Curiosity and an open mind are important qualities for us. It is not necessary to reinvent the wheel – often it’s just a new combination of good ideas that enables a significant advantage. This requires the courage to venture into unknown territory and manage the emerging risks, an attitude we foster in Scatec.

As changemakers we…

  • are curious and stimulate new ideas and creativity
  • have the courage to challenge accepted truths and enter unfamiliar territory
  • understand and manage risk

Working together:

The whole is greater than the sum of its parts. Complex projects involve many people and various disciplines that require seamless cooperation.

Working together we…

  • listen actively, give and accept constructive feedback
  • always seek the most appropriate solutions, share our experiences and build on each other‘s contributions.
  • respect the individual and encourage collaboration to continuously improve the working environment.
  • have a “can do” attitude and strive to develop and energise our colleagues.

Asset portfolio


MW in operation


MW under construction


MW in project backlog


MW in project pipeline