Scatec ASA

🗞️Battery storage: the tech that could revolutionise African renewables, writes Ben Payton for African Business Magazine ☀️🔋 A handful of large-scale battery storage systems have already been built, or are currently under construction, in Africa. "A prominent example is the Kenhardt project built by Norwegian company Scatec, which began supplying electricity to South Africa’s national grid late last year. Battery storage is provided through 456 shipping container-sized units, with a total storage capacity of 225 MW – making the site one of the 10 largest battery storage systems in the world at present," writes the author of the article. 🇿🇦 British International Investment Standard Bank Group H1 Holdings (Pty) Ltd Norfund #renewableenergy #batterystorage #solarpower #hybridprojects #BESS https://lnkd.in/dv-iwkYs

We are proud to see Scatec featured in 🇧🇷 one of Brazil's most read newspapers 📰 Folha de S.Paulo, where our very own Pål Strøm shared insights on the dedication that keeps our plants running smoothly. This interview showcases our full range of services in the industry. #operations #maintenance #RenewableEnergy #IndustryLeadership Read the article here (Portuguese) 👇 https://lnkd.in/dSxbnTUM

Norway's leading technology and business magazine Teknisk Ukeblad sat down with our CEO Terje Pilskog. They discussed energy security, the competitiveness of renewable energy sources, the role of North Africa and energy supply to Europe, as well as Scatec's growth ambitions across its markets. Read the article in Norwegian here: 👇 https://lnkd.in/dYdWBrmJ

Our CEO Terje Pilskog, CFO Hans Jakob Hegge and Head of Investor Relations Andreas Austrell meeting with investors and analysts during their Nordic roadshow 🇳🇴 🇸🇪 🇫🇮 Scatec continues to advance its strategy for attractive renewable growth, achieving significant milestones in several development projects this quarter.

"Renewable energy is becoming more competitive," Scatec CEO Terje Pilskog tells Norwegian business newspaper Finansavisen's Sigurd Sveen. The price of ☀️solar panels and 🔋batteries is declining and Scatec will use this to speed up the development of #renewableenergy. Read the article in Norwegian 🇳🇴 below: https://lnkd.in/dtnyVxUP

We reported our Q2 results today and our CEO Terje Pilskog engaged with analysts, investors, and media houses in Norway, including Finansavisen TV's Marius Lorentzen at our HQ in Oslo. 📺🎙️ Our overall strong results and strategic progress reflect the relentless dedication of the entire Scatec team. Thank you for your hard work and commitment! Check out the interview here https://lnkd.in/dpim_9S7 (In Norwegian 🇳🇴) #Q2Results #TeamScatec #StrategicProgress #Changemakers #renewableenergy #ImprovingourFuture

🎙️Second quarter 2024: Solid strategic progress 🎙️ “I am pleased with another good quarter and strong overall results, with new operating assets contributing positively. Our commitment to grow renewables is evident and I am happy to see construction of our new projects progressing well,” says CEO Terje Pilskog.  📊☀️ In the second quarter, Scatec reported proportionate revenues of NOK 1.5 billion (5.8 billion), with an EBITDA of NOK 951 million (1,379 million). Power production revenues were driven by new plants in operation in South Africa, Brazil and Pakistan and recognition of reserve market revenues in the Philippines. Scatec’s power plants generated 995 GWh in the quarter, up from 873 GWh during the same period last year on a proportionate basis, with revenues of NOK 1.05 billion (1.2 billion). EBITDA ended at 873 million (992 million), a 38% increase adjusted for divestments. The projects under construction in South Africa and Botswana are progressing well. The D&C segment delivered NOK 470 million of D&C revenues, with a gross margin of 36%, including a contingency release for the hybrid plant Kenhardt. The underlying gross margin for the two projects under construction was 10%. Additionally, Scatec is starting construction of the Sidi Bouzid and Tozeur solar projects in Tunisia, with a total capacity of 120 MW (60 MW each), in partnership with Aeolus SAS, part of the Japanese conglomerate Toyota Tsusho Group. Including Tunisia, Scatec has already committed NOK 590 million of equity investments to projects under construction, compared to the full year target to invest 500-750 million of equity. Thank you and congrats to the entire Scatec team of #changemakers. https://lnkd.in/dxzqzDcD #renewbleenergy #improvingourfuture #StrategicProgress

Women's month in South Africa: saluting the women of the renewable energy sector. 🇿🇦 This story portraits five women who work in the renewable energy space for Scatec, speaking about their careers, their journeys to where they are now, and the lessons they would share with younger women who would want to follow in their steps one day. ✨Industrial Engineer Andrea Inskip (Lawrenson) ✨Plant Supervisor @Nomfundo Mchunu ✨Project Developer Zimbini Nontyi ✨Communications and Government Affairs Graduate Lungelwe Hlengiwe Madonsela Madonsela ✨HR Director Reabetswe R. Motshegare (M.B.A) https://lnkd.in/dfCQAuvr Kudos to these 🌟 #Changemakers #ImprovingourFuture #RenewableEnergy #SouthAfrica #WomensMonth Release by Scatec

Solar-storage is best option to meet power demand in Africa, says Release by Scatec CEO Hans Olav Kvalvaag in an interview with Renewables Now Ltd.'s Martina Markosyan. ☀️🔋 Read the story here: 👇👇👇 https://lnkd.in/dBTjuNTi The combination of solar power and batteries has become the most cost-effective and reliable energy solution to address the impacts of climate change, rising oil prices and associated logistic issues in Africa, and to help local utilities secure more reliable power to meet their customers' needs, says the CEO of Release, a company offering solutions for off-grid or remote areas. “... large power consumers like mining operations and particularly utilities often depend on costly fuel-based power generation or face a complete lack of electricity access. Our Release solution, which is pre-financed, offers a quick and flexible alternative, reducing costs and delivering reliable power without the complexities typically associated with traditional IPPs or the financing challenges of purchasing an EPC solution,” Kvalvaag said in the interview. 🌍 Designed to overcome financial and technical barriers associated with adopting solar energy, Release is a flexible leasing agreement of pre-assembled solar PV and battery equipment to deliver a low cost, clean, and reliable power solution. Release is owned by Scatec (68%) and Climate Fund Managers (CFM) (32%) via its EU-supported Climate Investor One Fund, a USD 1 billion blended finance facility focused on renewable energy infrastructure in emerging markets.

🎙️Scatec is heading to Arendalsuka, Norway's largest political gathering. Since 2012, this annual weeklong event has aimed to bolster faith in political empowerment and democracy through open debate and active participation. During the week, we'll host two events featuring an impressive line-up of speakers, setting the stage for engaging discussions on critical topics (in Norwegian). 🇳🇴 ✅ Monday, 12 August 13.00-13.30 🎙️DN Tent in Arendal, Norway (digital/onsite event) War, crisis and climate: What’s Norway’s global role? Krig, krise og klima: Hvem skal Norge være i verden? The event will be live-streamed via Arendalsuka 2024: Der politikk møter næringsliv – Dagens Næringsliv (dn.no) and the recording will be available after the event.   ✅ Monday, 12 August 14:10-14:40 🎙️ (no streaming, onsite event) Words to Action: Effective Financing Strategies for Green Projects Fra ord til handling: Effektive finansieringsstrategier for grønne prosjekter More details here: 👇👇👇 https://lnkd.in/dFEYCFcg If you want to connect with us, reach out to the team on ground Terje Pilskog Hans Olav Kvalvaag Enja Sæthren Meera Bhatia Raquel Araujo, Msc https://lnkd.in/dE-hbd8F Snorre Valdimarsson