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Key people at Scatec ASA.
Scatec ASA develops, builds, owns, and operates renewable energy plants, providing integrated solutions across the solar, hydro, and wind power sectors. The company leverages its expertise to deliver reliable and affordable clean energy, managing projects from conception through to long-term operation. Its comprehensive approach aims to optimize energy generation and distribution in diverse global markets.
The company was founded in 2007 by Dr. Alf Bjørseth. Bjørseth, a renowned Norwegian industrialist and scientist, conceived Scatec with the insight that renewable energy, particularly solar, could become a significant and scalable power source, especially in developing regions. His vision centered on establishing a vertically integrated model to control quality and efficiency throughout the project lifecycle.
Scatec serves a broad customer base, primarily focusing on emerging markets where the demand for sustainable and accessible energy solutions is critical. The company's long-term vision is to accelerate the global transition to clean energy, contributing to sustainable development and economic growth by expanding its footprint and technology portfolio in regions most in need of dependable power infrastructure.
Key people at Scatec ASA.
Scatec ASA is a Norwegian renewable energy company that develops, builds, owns, and operates solar, wind, hydropower plants, and storage solutions, primarily in emerging and high-growth markets.[1][2][3] Headquartered in Oslo and listed on the Oslo Stock Exchange (ticker: SCATC), it operates 6.2 GW of capacity across five continents with over 700 employees, targeting profitable growth through solar PV, battery storage, and portfolio optimization while delivering clean, affordable energy.[3][4][5] In 2024, it reported NOK 7,853 million in revenues and NOK 4,694 million in EBITDA, with 4,221 MW in operation.[5]
The company's integrated business model focuses on long-term ownership in regions needing reliable power, expanding from solar origins to a diversified renewables portfolio via acquisitions like SN Power in 2020.[2][3]
Founded in 2007 by Dr. Alf Bjørseth as Scatec Solar ASA, the company initially specialized in large-scale photovoltaic systems in emerging markets, often partnering with the Norwegian government.[2] It evolved significantly in 2020, acquiring SN Power from Norfund to add hydropower, wind, floating solar, and storage, prompting a name change to Scatec ASA to reflect its broader renewables strategy.[1][2][3] Major shareholders include Scatec Innovation AS and Equinor, with operations now spanning offices in Europe, the US, South Africa, India, and beyond.[2] Key early traction came from solar projects in high-growth areas, building toward over 3.5 GW by the mid-2020s and a 15 GW target by end-2025.[1]
Scatec rides the global energy transition trend toward renewables, capitalizing on solar, wind, hydro, and storage to meet rising demand in emerging markets amid climate goals and energy security needs.[1][3] Its timing aligns with falling solar/battery costs and policy support for clean power, enabling expansion in Africa, Asia, and beyond where grids are underdeveloped.[2][6] Market forces like electrification, decarbonization, and high growth in high-demand regions favor its model, influencing the ecosystem by partnering with governments, financiers (e.g., Equinor, Norfund), and delivering scalable solutions that reduce reliance on fossils.[1][2][5]
Scatec is poised for accelerated growth, reinvesting divestment proceeds into solar PV and storage to hit 2030 targets, while optimizing its portfolio for higher returns and lower leverage.[3] Trends like battery advancements, hybrid plants, and emerging market infrastructure booms will shape its path, potentially evolving its influence through more green financing and tech integrations in hydro/storage.[3][5] As a frontrunner, Scatec's long-term play in affordable clean energy positions it to sustain momentum from its 6.2 GW base, delivering on the promise of reliable power worldwide.[1][4]