Scatec Solar increases US$ 200 million to sustain multi-gigawatt pipe quest

• Norwegian solar developer Scatec Solar has actually elevated around US$ 200 million via a personal positioning, which it will certainly utilize to go after brand-new project advancement.

The Other Day (18 May) the company disclosed that it had actually kept a variety of financial institutions to function as joint bookrunners on an exclusive positioning of some 12 million brand-new shares, standing for simply reluctant of 10% of impressive resources in the firm.

Overall earnings totaled up to NOK 1,968 million (US$ 197 million).

The internet profits from the personal positioning are to be utilized to money more financial investments in renewables projects, the business claimed.

Scatec Solar is presently remaining on a considerable pipe of solar possessions totaling up to greater than 5.3 GW.

A more 400MW of projects is presently unfinished, the majority of which is waiting for clearance to start complete procedures after experiencing hold-ups associated with the recurring pandemic.

Scatec Solar president Raymond Carlsen dedicated to acquire about NOK 5 million (US$ 500,000) of shares via his very own firm-- Argentos-- while state-backed power titan Equinor had actually additionally embarked on to subscribe for extra shares in specific problems.

Earlier today the company introduced that the personal positioning had actually been finished, with all 12 million brand-new shares alloted at a membership rate of NOK 164 (US$ 16.40). Scatec Solar likewise exposed that the positioning was "dramatically oversubscribed".

Scatec Solar's present market capitalisation stands at around NOK 20.6 billion, comparable to about US$ 2 billion.