Our strategic priorities
Toward 2030, we have outlined five strategic priorities with clear targets and a focused strategy. We aim to remain a value-driven company, consistently creating impactful projects by harnessing the potential of our workforce, leveraging innovative solutions, and upholding a sustainability profile that builds trust and delivers lasting benefits for all our stakeholders.
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Profitable growth
Scatec is a growth company and towards 2030 we will continue to grow our renewables capacity, targeting NOK 1 billion in annual equity investments. Solar PV and battery storage will make up the largest share of our investments due to its attractive fundamentals and complementary profiles. We will utilise our competitive integrated business model and stay committed to delivering attractive returns of 1.2 times the cost of equity, D&C gross margins of 10-12% for our projects under construction and in backlog, and additionally services EBITDA-margins of 25-30%.
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Profitable growth
We aim to build stronger and longer-term positions in selected emerging markets which have excellent conditions for renewable power, and where we see a growing power demand, a clear green agenda, and the opportunity to build scale and apply our proven model. Our established growth markets are Egypt, South Africa, the Philippines and Brazil where we already have a strong track record and operational portfolio. Beyond these markets, we have new attractive growth markets which include Romania/Central Eastern Europe, Tunisia, Botswana and Colombia. In addition, we are ready to quickly adapt to changing market conditions.
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Portfolio optimisation
We are focusing on strategic divestments of non-core assets to consolidate our portfolio, enhance value creation, and fund our growth ambitions. We also pursue selective divestments or equity sell-downs in core markets when they make sense from a strategic and value creative perspective. By 2030, we aim to generate NOK 3.4 billion in proceeds from these divestments. By reinvesting capital to develop, finance, and build new projects, we concentrate on the steps in the value chain where we hold a competitive advantage. We are also committed to deleverage on corporate level to increase our financial flexibility and aim for NOK 4 billon in gross corporate debt by 2030.
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Innovative solutions
Throughout our history, our skilled people have collaborated across functions through our integrated business model to develop solutions for our customers that position us ahead of competitors. We aim to continuously enhance our capability to develop innovative solutions. This includes incorporating advanced technology, smart solutions, and improving efficiency.
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Leadership in sustainability
Our commitment to sustainability extends beyond mere regulatory compliance; it is central to our strategy to be recognised as a leader in sustainability for all of our stakeholders. Our ultimate objective is to promote the growth of renewable energy, thereby contributing to the reduction of CO2 emissions on a global scale. To reinforce our vision and mission and to establish ourselves as leaders in sustainability-encompassing more than just green energy – we are concentrating on three key areas: green footprint, responsible supply chain, and local value creation.
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Our people
The success and competitiveness of our organisation depend on the skills of our employees and our collaborative efforts. We emphasise a strong value proposition for our staff, continuous learning and development, preparing for the future with appropriate competencies, and ensuring flexibility, competence hubs, and efficiency.