Update shared on21 Aug 2025
Fair value Increased 9.94%Scatec’s fair value estimate has been revised upward primarily due to significantly higher consensus revenue growth forecasts, despite a lower net profit margin, resulting in the analyst price target increasing from NOK105.51 to NOK114.67.
What's in the News
- Scatec provided FY2025 power production guidance of 4,000–4,300 GWh, slightly reduced due to curtailments in Brazil and Ukraine, with marginal EBITDA impact as most curtailments are refundable.
- Joint venture with Aboitiz Power in the Philippines received regulatory approval for a higher ancillary services contract rate, leading to a NOK 231 million retroactive revenue impact to be recognized in Q2 2025.
- Awarded preferred bidder status for an 846 MW solar cluster (Kroonstad PV) under South Africa’s REIPPPP, with total project cost of ZAR 13 billion and up to 90% non-recourse project debt financing.
- Signed a 25-year USD-denominated PPA with Egypt’s EETC for a 900 MW wind project at Ras Shukeir, with wind measurements to be completed before advancing to financial close.
- Secured preferred bidder status for the 123 MW/492 MWh Haru BESS battery storage project in South Africa with a 15-year agreement; project capex is ZAR 2.2 billion, 90% financed with non-recourse project debt.
Valuation Changes
Summary of Valuation Changes for Scatec
- The Consensus Analyst Price Target has risen from NOK105.51 to NOK114.67.
- The Consensus Revenue Growth forecasts for Scatec has significantly risen from 14.8% per annum to 21.5% per annum.
- The Net Profit Margin for Scatec has significantly fallen from 9.84% to 8.52%.
Disclaimer
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