Integrated solar energy manufacturer, Scatec Solar has increased its growth targets in its key markets, due to strong demand.
The independent power producer said it had raised its growth goal by around 1GW to 4.5GW in operation by the end of 2021, while intending to sustain annual PV energy plant job completions of over 1.5GW in 2022, onwards.
Raymond Carlsen, CEO of Scatec Solar stated,”We’re raising our growth ambitions, driven by a strong solar market and a steadily growing pipeline of high quality jobs. Solar is your lowest cost source of energy across sun-rich regions, as well as renewables expected to provide 50 percent of power globally by 2050, we’ll continue to encourage goverments and corporates in making the shift to renewable energy”
The company has around 1.1GW of PV power plants in operation, using a backlog and project pipeline surpassing 5.6GW.
A significant portion of the present project pipeline was procured in emerging markets with strong multi-gigawatt installation projections with approximately 50 percent of these markets anticipated to become utility-scale.
The business is targeting markets such as Vietnam where the firm has planned portfolio of projects currently exceeding 1.2GW, including a 650MW floating solar endeavor.
Scatec has also launched’Release’ a complete containerised pre-assembled PV electricity plant using only axis trackers and bifacial modules, provided in 0.5MW blocks that may include energy storage targeting industrial clients often dependent on gas electricity generators in emerging markets.
Scatec is targeting annual installations of Release systems in the assortment of 300MW to 500MW per annum from 2022.
