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Scatec’s 2024 EBITDA rose to NOK 4.69 billion, with full-year revenues declining compared to 2023 despite Q4 growth. Image Source: SOLARbytes
Oslo-based renewable energy company Scatec has recently published its financial results for the fourth quarter and full-year 2024. The company has reported its proportionate revenues of NOK 2.68 billion (~$235.84 million) for Q4 2024, an increase from NOK 1.59 billion (~$139.91 million) in the same period in 2023. EBITDA for the fourth quarter stood at NOK 1.38 billion (~$121.44 million), up from NOK 0.81 billion (~$71.28 million) in Q4 2023. Scatec’s power production for the quarter reached 1,138 GWh, a notable rise from 811 GWh in the previous year, largely due to newly commissioned projects. At present, the company has 0.8 GW under construction portfolio, with an additional 1.9 GW in its project backlog, securing a strong development pipeline. Looking ahead, Scatec has forecasted its proportionate power production in the range of 4.1 TWh to 4.5 TWh for 2025. The company also expects EBITDA for the year to land between NOK 3,750 million (~$330.00 million) and NOK 4,050 million (~$356.40 million).