Scatec ASA is a Norwegian renewable energy company headquartered at Askekroken 11 in Oslo and listed on the Oslo Stock Exchange. It describes itself as a long-term owner and operator of renewable power plants in emerging markets, and reports 6.6 GW of generation and 2 GWh of storage capacity in operation and under construction across five continents. The group works through an integrated model: it develops projects, builds them through its own construction arm, and then owns and operates the assets, selling electricity under long-term contracts. Terje Pilskog is chief executive.

How the business is put together

Scatec reports in two segments. Power production covers electricity sales from operating solar, wind and hydro plants and from battery storage, and is measured on a proportionate basis that reflects the group's economic share of its joint ventures. Development and Construction (D&C) books revenue from engineering and construction work on projects Scatec builds for itself and for partners, which makes its margin sensitive to construction milestones rather than to electricity prices. Alongside these, the company has been adding grid-scale batteries to existing solar sites, including projects in the Philippines and Romania.

Second quarter 2026 results

In its 21 August 2026 report Scatec said proportionate revenues were NOK 2,286 million against NOK 2,302 million a year earlier, and proportionate EBITDA was NOK 1,016 million compared with NOK 1,130 million. Power production revenue was NOK 1,039 million and EBITDA NOK 805 million, the decline against the prior year explained mainly by one-off items, including a retroactive tariff adjustment of NOK 231 million in the Philippines in 2025. Total proportionate power production rose 21% to 1,135 GWh from 940 GWh as new plants came online. The construction segment had a much stronger quarter, with revenues of NOK 1,231 million, EBITDA of NOK 234 million and a 24% gross margin, well above the guided range of 10-12%. On a consolidated basis revenues and other income were NOK 1,369 million, EBITDA was NOK 824 million and the group recorded a net loss of NOK 157 million, against a net profit of NOK 314 million a year earlier. Full-year 2026 guidance is for proportionate power production of 5.05 to 5.35 TWh and proportionate power production EBITDA of NOK 3,600 to 3,900 million, with NOK 3.8 billion of remaining construction contract value.

Projects and transactions in 2026

  • Egypt — the Obelisk project reached full commercial operation for its second phase of 563 MW of solar, ahead of schedule and below budget.
  • Brazil — the 142 MW Rio Urucuia solar plant started commercial operation.
  • Philippines — the 16 MWh Magat battery storage phase 2 reached commercial operation.
  • Tunisia — financial close and start of construction on the 120 MW Sidi Bouzid 2 solar project.
  • Romania — acquisition and start of construction of the 77 MW Urleasca onshore wind project, with the 89 MW/178 MWh Buciumi battery project advanced to the backlog.
  • Financing — a NOK 1,000 million bond issue announced to refinance the group's most expensive corporate debt, and a successfully placed senior unsecured green bond, alongside a share buyback programme for the 2026 employee share purchase programme.

Capital priorities and shareholder returns

Scatec's board changed the dividend policy to no dividend on 1 November 2023, and the last distribution was the NOK 1.94 per share approved at the annual general meeting on 18 April 2023 and paid on 11 May 2023. The company now prioritises investment in renewable power, storage and energy solutions in markets it considers attractive, together with repayment of corporate debt, and says it intends to return excess capital through dividends and share repurchases once leverage is reduced. Shareholders who want the full register of owners must request disclosure from the company, and a public shareholder register is maintained in Norway.

Where it fits in the value chain

Scatec is an independent power producer rather than an equipment maker or a services contractor, although its construction segment carries out engineering and building work for the group. Its markets are concentrated in Africa, Latin America, Asia and parts of Eastern Europe, where it sells electricity to state utilities, corporates and grid operators under long-term agreements. Because those contracts are often denominated in local currency or in US dollars, the mix of currencies and the pace of construction are the two variables the company highlights most in its reporting. Its contact page is a web form rather than a published mailbox, and investor material is published through the Oslo Stock Exchange and the company's own investor pages.