+
Scatec ASA aims hydropower assets in India
POWER & RENEWABLE ENERGY

Scatec ASA aims hydropower assets in India

Scatec ASA, a Norwegian renewable energy company, is aiming to set up greenfield projects in the hydropower sector of India with opportunities for acquiring distressed assets.

The company based in Oslo entered the hydropower sector in 2021 last year by the acquisition of another Norwegian company- SN Power.

The company will look at opportunities in the verticals of renewable energy, which includes solar and wind, said Roar Haugland, Executive VP for sustainable business and HSSE at Scatec.

Scatec entered the Indian market in the last year via an equal partnership in Acme Solar Holdings Limited’s solar project of 900 MW in Rajasthan.

Haughland said that they have PV cells for solar, they have wind, they have hybrid solutions, they have battery energy storage systems and now they will have hydro as well. They are looking at hydro opportunities in the country.

On plans for the Indian hydroelectric sector, he said that they are looking for greenfield opportunities. They are further interested to look at other types of assets that they could jump to decrease the development phase. Distressed assets or other types of assets can also be of interest.

In January last year, Scatec announced the completion of the 100% purchase of shares in SN Power from Norfund for $1.16 billion. The deal helped Scatec bring hydropower plants to various countries including Zambia, Uganda, the Philippines, Panama, and Laos under its portfolio.

Image Source

Also read: Kwar hydropower project receives grant of Rs 4,526 crore

Scatec ASA, a Norwegian renewable energy company, is aiming to set up greenfield projects in the hydropower sector of India with opportunities for acquiring distressed assets. The company based in Oslo entered the hydropower sector in 2021 last year by the acquisition of another Norwegian company- SN Power. The company will look at opportunities in the verticals of renewable energy, which includes solar and wind, said Roar Haugland, Executive VP for sustainable business and HSSE at Scatec. Scatec entered the Indian market in the last year via an equal partnership in Acme Solar Holdings Limited’s solar project of 900 MW in Rajasthan. Haughland said that they have PV cells for solar, they have wind, they have hybrid solutions, they have battery energy storage systems and now they will have hydro as well. They are looking at hydro opportunities in the country. On plans for the Indian hydroelectric sector, he said that they are looking for greenfield opportunities. They are further interested to look at other types of assets that they could jump to decrease the development phase. Distressed assets or other types of assets can also be of interest. In January last year, Scatec announced the completion of the 100% purchase of shares in SN Power from Norfund for $1.16 billion. The deal helped Scatec bring hydropower plants to various countries including Zambia, Uganda, the Philippines, Panama, and Laos under its portfolio. Image Source Also read: Kwar hydropower project receives grant of Rs 4,526 crore

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?