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
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?