Scatec ASA
Oslo Børs: SCATC80Climate Leader· ProvisionalNorwegian renewable energy company developing, building, owning and operating utility-scale solar, wind and hydropower projects across emerging and developed markets.
Why it's on ClimateTicker
Scatec ASA is a genuine renewable energy developer with a core business of building and operating utility-scale solar, wind, and hydropower projects across emerging markets — its primary commercial activity directly displaces fossil-fuel generation. SBTi-validated net-zero targets, CSRD-compliant reporting, and PwC-verified GRI disclosures give it above-average credibility among listed renewable developers. The main residual risk is an industry-wide solar supply chain exposure to Xinjiang polysilicon and the political/operational hazard of projects in fragile or frontier markets.
Commitments & Certifications
Controversy & Greenwashing Watch
Like virtually all solar developers using Chinese-manufactured modules, Scatec faces sector-wide risk from polysilicon linked to alleged Uyghur forced labour in Xinjiang; the company has implemented EcoVadis supplier screening and traceability mapping but cannot fully guarantee a Xinjiang-free supply chain given that roughly 35% of global polysilicon originates from the region.source ↗
The Sukkur solar project in Pakistan was awarded a cost-plus tariff by the national regulator, signalling ongoing regulatory and offtaker risk in frontier markets.source ↗
Honduras enacted a new Energy Law in 2022 under a new government, triggering a PPA renegotiation; Scatec signed an amended agreement in January 2024 accepting a lower tariff and extended term in exchange for settling overdue receivables.source ↗
Scatec's EcoVadis rating declined from Platinum (top 1%) in 2022 to Gold (top 5%) in 2023, suggesting a modest retreat in assessed supplier sustainability performance, though it remains in the top tier.source ↗
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