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Founded Year

2007

Stage

PIPE | IPO

Market Cap

1.01B

Stock Price

6.35

About Scatec

Scatec (OSL: SCATC) develops, builds, owns, and operates renewable power plants globally. The business functions through power production (PP), operation and maintenance, and development and construction segments. It was formerly known as Scatec Solar. The company was founded in 2007 and is based in Oslo, Norway.

Headquarters Location

Askekroken 11

Oslo, 0277,

Norway

+47 48 08 55 00

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Latest Scatec News

Lyra Energy, a partnership poised to change South Africa’s energy landscape

Feb 22, 2024

22-02-2024 10:21:00 | by: Marlene Mutimawase | hits: 19 | Tags: Scatec, Standard Bank and Stanlib have combined their global expertise to establish a new renewable energy platform that offers uniquely low-risk, flexible commercial proposition to the private sector in South Africa. The partners each boast impressive portfolios of successful, operating renewable energy projects across the continent and the globe. Lyra Energy – a private power solution that offers distributed access to high-quality, affordable and predictable utility-scale renewable energy to medium and large commercial and industrial (C&I) players. Lyra’s aggregator model will fund, build, own, and operate generation assets. The energy from these projects will be transmitted (or ‘wheeled’) to multiple off-takers, across the national grid. Private sector customers or off-takers can expect increasing savings over time. Lyra Energy’s objective is to offer private power supply to the previously unserved segment of the commercial and industrial power users in South Africa. More specifically, users with significant electricity demands which in itself does not justify the procurement and implementation of a dedicated large renewable energy project. This will also provide clients with green energy certifications that are key to achieving individual and global net zero goals. Each private sector customer will sign a standardised, fixed-tenor Power Purchase Agreement (PPA) with Lyra which has been developed and tailored taking into account market trends and seeks to address traditional risks and frictions associated with bi-lateral PPA’s and wheeling of energy. “Underpinned by Scatec’s extensive, well-established development pipeline, including market-leading technical and operational services, the Lyra platform is in a strong position to leverage economies of scale, minimise risk, and ensure successful, consistent generation of clean electricity,” says Scatec CEO, Terje Pilskog. “As with other Scatec projects, the platform’s new utility-scale projects will be supported by an Integrated, business model, with a strong focus on long-term community impact, and sustainable job creation,” adds Terje. Matching generation from a pool of utility scale renewable energy generation facilities to a collection of commercial and industrial power users, allows Lyra Energy to offer the benefits of large-scale renewable energy projects to smaller scale users. These benefits serve to mitigate users cost of energy supply relative to the utility as well as additional attributes of environmental credits and recognition of power expenditure in terms of preferential procurement requirements. [Column] Sergio Pugliese: Opportunities created by Angola’s energy transition Angola’s energy transition continues to power the country’s grid and cultivate socioeconomic opportunities  ... read full column here [Column] Anthony Osijo: How to sustainably finance renewable energy industry There are clearly multiple hurdles at play when considering how best to solve the major global problem of energy poverty ... read full column here [Column] Verner Ayukegba: Angola targets 60% electrification by 2025 driven by renewables Angola is uniquely positioned to expand the role of its already strong hydropower sector ... read full column here INTERVIEWS. [Startup Interview] Adedokun Muhammed-Ali Adedeji, Founder, Brightcloud Automobile, Nigeria Adedokun Muhammed-Ali Adedeji  is a Nigerian innovator, entrepreneur and logistics manager. A green mobility advocate, Adedokun is the founder of  Brightcloud Automotive ... read full interview here

Scatec Frequently Asked Questions (FAQ)

  • When was Scatec founded?

    Scatec was founded in 2007.

  • Where is Scatec's headquarters?

    Scatec's headquarters is located at Askekroken 11, Oslo.

  • What is Scatec's latest funding round?

    Scatec's latest funding round is PIPE.

  • Who are the investors of Scatec?

    Investors of Scatec include Climate Fund Managers and Equinor.

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