Scatec Solar makes billion-dollar acquisition, changes name

The Norwegian solar developer aims to become a global player within solar, hydro, wind and energy storage. Therefore, the group now acquires hydro specialist SN Power in a deal worth USD 1.166 billion. Meanwhile, the company changes its name.

Photo: PR / Scatec Solar

Scatec Solar is now cutting the sun out of its name and will henceforth go by the name "Scatec".

The change happens in an effort to embrace the latest addition to the company, hydro company SN Power, which Scatec acquires Friday in a deal worth USD 1.166 billion (EUR 995 million).

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