EnergyWatch

Scatec Solar considers new loan

New funding is needed to ensure continued growth for Norwegian firm Scatec Solar. The company hopes for lower financing costs.

After a busy fall season, which included entering a joint venture with Statoil in Brazil and a record NOK 400 million profit (USD 50 million), Norwegian company Scatec Solar will now maximize on the positive momentum to secure cheaper and more long-term financing.

The company announced that it will enter a dialogue with potential lenders regarding the possibility of issuing a new bond. Scatec Solar has not revealed how big the new loan will be, but as it will replace the former NOK 500 million bond, which expires in November next year, it is highly likely that the company will seek a loan of a corresponding size.

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