Renewable energy company, Scatec confirms its current 4.5 GW capacity target for 2021 and raises its target to 15 GW by end of 2025. The business plan is supported by Scatec’s track record of strong growth and a solid project pipeline across solar, wind, hydro and storage in high-growth markets globally. (Logo quoted from Scatec’s official website)

12 GW of new capacity, from current 3.3 GW, will require NOK 100 billion in investments according to company estimates, of which NOK 15-20 billion will be funded by Scatec equity. Solid long term cash flows from operating power plants and margins from development and construction of new plants are expected to fund a major part of Scatec’s equity investments.

Scatec intends to pay consistent and growing dividends to its shareholders. Dividends will grow with increased long term cash flow, and the company will from 2021 adjust its dividend policy to pay out a minimum of 25 % of the cash distributions received from operating power plants.

Scatec’s robust and diversified assets portfolio creates a solid platform for growth in the years to come. Scatec and SN Power delivered a combined 2020 EBITDA of NOK 2.5 billion and power production of 3,045 GWh. For the full year 2021, the total proportionate power production volume is estimated to 3,500-3,700 GWh, up 20% from 2020. In the first quarter 2021, Scatec is expecting to report proportionate EBITDA in the Power Production segment of NOK 660 – 680 million.

(IRuniverse)

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