The sponsor is Scatec ASA, a leading global renewable energy developer focusing exclusively on emerging markets. With operations across 15 countries and a total of 4 GW of projects in operation and under construction, Scatec develops, builds, owns, and operates solar, wind, and hydropower plants and battery storage solutions. Headquartered in Norway and listed on the Oslo Stock Exchange since 2014, most of the Company’s shares are owned by institutional investors. The largest shareholders are Equinor ASA, Scatec Innovation AS, and Folketrygdfondet.                                                 

  The proposed IFC investment is in the form of a subscription of up to NOK222 million to the Green Bond to be issued by Scatec ASA and is expected to attract additional subscription for up to NOK778 million as anchor investor, depending on market conditions. The issuance will be carried out as a private placement, to be listed on the Oslo Stock Exchange within 12 months from the settlement date. With a 4-year tenor, the Green Bond will be senior unsecured.

The Green Bond proceeds will be used to refinance an existing corporate debt facility and for other eligible expenses under the Company's green financing framework. Amounts that will be unlocked through the Green Bond will be deployed to fund Scatec’s most probable project pipeline. The projects targeted for IFC’s investment will be greenfield renewable energy projects in emerging markets. IFC will work with Scatec to identify a list of eligible projects that have limited environmental and social (E&S) impacts (Category B) and are compliant with IFC Performance Standards (PS).                                                 

   This is a corporate bond issuance by the parent company based in Norway. IFC’s investment will be earmarked to benefit eligible projects in emerging markets.