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Scatec to invest $11.8 bln in renewable energy in the next 4 years

OSLO, March 23 (Reuters) - Norwegian renewable energy producer Scatec plans to invest 100 billion Norwegian crowns ($11.8 billion) by the end of 2025 in a drive to increase output capacity fivefold, the company said on Tuesday.

Scatec produced just over 3 gigawatt hours (GWh) of electricity across 3.3 gigawatts of installed capacity in 2020, and the company plans to expand its portfolio to 15 GW over the next four years.

It maintained its goal of hitting a capacity of 4.5 GW by the end of 2021.

Originally a solar producer, Scatec has begun to expand within hydro and wind power as well as in electricity storage. ($1 = 8.5058 Norwegian crowns) (Reporting by Terje Solsvik, editing by Nora Buli)

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