Scatec Sells African Hydro Assets

March 06, 2025 • Estimated Reading Time: 1 minute

Key Figures & Findings: Norwegian renewable energy company Scatec has sold its 51% stake in its African hydroelectric power venture to TotalEnergies, marking a strategic shift in its investment focus. The deal, worth $167 million, includes hydro projects in Uganda, Malawi, and the Democratic Republic of Congo (DRC). The sale aligns with Scatec’s plan to concentrate on solar, wind, and battery storage, while TotalEnergies strengthens its footprint in Africa’s renewable energy sector.

Statistics & Insights: Scatec has been operating hydroelectric assets in Africa since 2021, and this sale transfers a total generation capacity of two hydro projects exceeding 130 MW to TotalEnergies.

Future Implications: This acquisition could enhance TotalEnergies' renewable energy portfolio in Africa, potentially increasing access to sustainable power in the region. Scatec's divestment may enable it to allocate resources more effectively toward its primary business areas.