Scatec, a renewable energy company from Norway, said its revenues grew by 25% in the fourth quarter (Q4) of 2025. The figure reflects Scatec’s share of income from the power projects it partly owns. Total revenues for the quarter reached NOK 3,362 million, according to the company’s press release.

Scatec has been making headlines with its expansion in Egypt in the last period, a fact that was reflected in its results, with the  Development and Construction (D&C) segment emerging as a primary growth driver, recording revenues of NOK 2,266 million on the back of intense construction activity at the Obelisk hybrid solar project in Egypt, and the Mogobe Battery Energy Storage Systems (BESS) project in South Africa.

Located in Qena Governorate, the Obelisk project will deliver 500 megawatts (MW) of solar capacity in its first phase, combined with 200 megawatt-hour (MWh) of battery storage. Once fully completed in 2026, the 1,000 MW complex is expected to cover around 20 square kilometers and supply electricity to about 1.6 million homes annually.

Moreover, equity injections to projects in the development phase and construction projects in Brazil, Botswana, and Egypt drove the company’s cash flow from investments, which stood at NOK 220 million.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at NOK 1,065 million for the quarter. “During the quarter, we saw strong progress across our development and construction portfolio and also extended the maturity profile of our corporate debt. Importantly, liquidity remains strong and improved compared to last quarter, reinforcing our ability to execute self-funded growth and create long-term shareholder value,” said Scatec CEO Terje Pilskog.

In January, Scatec signed a landmark Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company for a  1.95 GW solar project combined with 3.9 GWh of battery energy storage. This is the largest solar‑storage installation in Africa.