Scatec, a dynamic player in the renewable energy sector based in Norway, has recently reported an impressive growth milestone, indicating a significant 25% increase in revenues during the fourth quarter (Q4) of 2025. This notable surge, which brought total revenues to a remarkable NOK 3,362 million, is primarily attributed to Scatec’s stake in various power projects. This performance highlights the company’s strategic positioning and robust portfolio in the fast-evolving energy market.
A major catalyst for this growth has been Scatec’s ongoing expansion efforts in Egypt. Their Development and Construction (D&C) segment saw a noteworthy revenue increase, reaching NOK 2,266 million, driven by a flurry of construction activities. Key projects like the Obelisk hybrid solar project in Egypt and the Mogobe Battery Energy Storage Systems (BESS) project in South Africa have been integral to this success, showcasing Scatec’s commitment to enhancing its operational footprint in regions ripe for renewable energy development.
Situated in Qena Governorate, the Obelisk project is particularly promising, set to deliver an impressive 500 megawatts (MW) of solar capacity in its first phase, complemented by 200 megawatt-hours (MWh) of battery storage. Projections indicate that, once fully operational in 2026, the entire complex will boast a capacity of 1,000 MW, sprawled across approximately 20 square kilometers, ultimately providing clean electricity to around 1.6 million homes each year. This project not only reinforces Scatec’s vision for sustainable energy but also aligns with Egypt’s broader objectives for renewable energy growth.
In addition to these transformative projects, Scatec has been actively investing in various developments, contributing to significant cash flow from investments, which amounted to NOK 220 million in the quarter. This financial influx is crucial as it underscores Scatec’s strategy of reinvesting in projects currently in developmental and construction phases across Brazil, Botswana, and Egypt, thereby bolstering its long-term growth prospects.
Financially, the company reflected robust health with its earnings before interest, taxes, depreciation, and amortization (EBITDA) standing at NOK 1,065 million for the quarter. Terje Pilskog, the CEO of Scatec, emphasized the notable progress made during this period, saying, “During the quarter, we saw strong progress across our development and construction portfolio and also extended the maturity profile of our corporate debt. Importantly, liquidity remains strong and improved compared to last quarter, reinforcing our ability to execute self-funded growth and create long-term shareholder value.” This statement reflects confidence in both current operations and future prospects.
In a further demonstration of its commitment to expanding its renewable energy portfolio, Scatec recently secured a landmark Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company. This agreement involves a substantial solar project generating 1.95 GW, supplemented by 3.9 GWh of battery energy storage capacity, marking it as the largest solar-storage installation in Africa. Such initiatives highlight the growing collaborative efforts between private companies and governments to strengthen the renewable energy infrastructure, not just in Egypt but across the continent.