Scatec hails 'transformational' 2020 as renewables pipeline strikes record 10.5 GW.

• Scatec said it went through a "transformational" year in 2020, with its complete renewables pipeline currently standing at a record high of 10.5 GW.

Reporting its full-year financial performance, independent power producer Scatec-- rebranded from Scatec Solar adhering to the purchase of hydropower developer SN Power-- exposed its complete project pipe, including projects nearing development within its stockpile, currently amounted to 10.5 GW.

While the addition of SN Power projects, contributed to the pipeline after the closure of the purchase late last month, boosted Scatec's pipeline by 2.5 GW, more enhancements of around 800MW in high-growth solar markets consisting of South Africa and also Vietnam have actually likewise been made.

Raymond Carlsen, CEO at Scatec, stated the business had made its "greatest growth" because its facility while also widening its growth technique.

" With SN Power, we are adding solid hydropower properties, our first wind ranch and an attractive project pipeline along with significantly raising range and also capital from operating plants," he stated.

Information of the pipeline record came as complete incomes and profits fell in 2020, showing a year in which building task dropped. Scatec tape-recorded incomes of NOK2,844 million (US$ 330 million) as well as earnings before interest, tax, devaluation and also amortisation (EBITDA) of NOK1,306 million (US$ 152 million).

Power generation is, nevertheless, remaining to expand at pace. Scatec assets created 407GWh of power in Q4 2020, up 37% year-on-year, and contributing towards total amount generation of 1.6 TWh throughout the year.

This number is anticipated to expand to in between 1.75 as well as 1.79 TWh in proportional terms, yet might get to 3.2 TWh on a 100% basis, Scatec's initial short-term support programs.