Core Insights - Scatec ASA has signed a 15-year Power Purchase Agreement (PPA) with BTG Pactual Comercializadora de Energía for a 130 MW solar plant in Colombia, covering approximately 85% of the estimated production [1][2] - The project marks Scatec's entry into the Colombian market, which is expected to add over 5 GW of solar capacity in the next five years, supported by high irradiation and strong demand for renewables [2][3] Company Overview - Scatec ASA is a leading renewable energy solutions provider, with 6.2 GW of renewable energy plants in operation and under construction across five continents [6] - The company is headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange under the ticker symbol 'SCATC' [6] Project Details - The estimated total capital expenditure (capex) for the solar plant is USD 110 million, with Scatec designated as the Engineering, Procurement and Construction (EPC) provider, covering approximately 80% of the capex [4] - Scatec will also provide Operations & Maintenance (O&M) and Asset Management (AM) services for the plant [4] Financing Structure - The project will be financed through non-recourse financing and equity, with Scatec retaining majority ownership and Norfund as a minority equity partner [5] - Scatec is in advanced negotiations for non-recourse project financing, targeting a leverage of 65%, with financial close and construction expected to start in 2025 [5]

Group 1 - The latest political developments in Washington, D.C. have negatively impacted renewable energy stocks, particularly due to proposed new taxes on solar and wind segments [1][3] - AES Corporation experienced a nearly 2% decline in its shares, reflecting investor concerns over the new tax proposals, while the S&P 500 index closed 0.5% higher [2] - Republican senators introduced taxes for certain wind and solar projects in an effort to pass the controversial bill, which previously only aimed to advance the expiration dates of existing tax incentives [3][5] Group 2 - As of midafternoon Monday, discussions and votes on numerous amendments to the bill, including the proposed renewables taxes, were ongoing [5] - AES Corporation has diversified its energy portfolio, with 52% of its total deployed power assets in renewable energy, which may have mitigated the negative investor reaction [5][6] - The long-term concern for AES lies in the significant investments made in renewable solutions, as the proposed withdrawal of tax incentives could lead to substantial tax liabilities for its in-development projects [6][7]

Group 1 - The company has completed its share buyback program, acquiring a total of 68,533 own shares at an average price of NOK 94.6609 per share [1][2] - The acquired shares are intended for the Company's Employee Share Purchase Programme and have been sold to employees, resulting in the company not owning any shares post-transaction [2] - The share buyback was conducted in compliance with the EU Market Abuse Regulation [1] Group 2 - Scatec is a leading renewable energy solutions provider, focusing on developing, building, owning, and operating renewable energy plants with a total capacity of 6.2 GW across five continents [3] - The company is headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange under the ticker symbol 'SCATC' [3]

Renewables Portfolio and Growth - AES has a global operating and development portfolio of 66 GW[7] - The company's pipeline includes 12.7 GW of projects[7] - AES' backlog consists of 34.9 GW, with 46% under construction[7,8] - The company expects to add a total of 3.6 GW of new projects in FY 2024[8] Data Center Demand and AES' Position - US data center demand is projected to grow by 35 GW by 2030, driven by GenAI[11] - Over 40% of AES' US backlog is with large technology companies[16] - AES has signed PPAs totaling 5.91 GW with Amazon, Microsoft, Google, and other companies[15] Financial Performance and Targets - AES reaffirmed its 2024 Adjusted EPS guidance of $1.87-$1.97 per share[21] - The company reaffirmed its 2024 Adjusted EBITDA with Tax Attributes guidance of $3.55 billion - $3.95 billion[21] - AES has achieved $2.2 billion in asset sale proceeds for 2023-2024, with a remaining target of $1.3 billion for 2024-2027, totaling $3.5 billion[23,24] - The sale of AES Brasil is expected to generate ~$640 million in proceeds[25]