Scana — Capital/Financing Update 2024

Sep 30, 2024

Scana company secures green financing facility for energy storage solutions.

Scana company secures green financing facility for energy storage solutions.

Bergen, 30 September 2024: Scana-owned PSW Power & Automation AS has secured a green financing facility of NOK 32 million to fund energy storage solutions with DNB according to Sustainable Product Framework (dnb.no)

The facility is planned to convert to a 5-year term loan upon delivery of the systems to end customers.

“Rolling out and financing energy storage systems is paramount to make the power grid more robust. Green financing emphasizes the sustainability of PSW Power & Automation’s business model,” says Eirik Sørensen, Managing Director of PSW Power & Automation.

(1) A sizeable contract is defined to be between NOK 20 million and NOK 50 million.

(2) A substantial contract is between NOK 50 million and NOK 150 million.

(3) A large contract is over NOK 150 million.

For more information, please contact:

Pål Selvik, CEO, Scana ASA, +47 970 46 502

Eirik Sørensen, Managing Director, PSW Power & Automation, +47 936 78 233

PSW Power & Automation in brief

PSW Power & Automation delivers complete solutions within electrification and renewable energy. The company specializes in the design and integration of electrical power systems, electrical infrastructure, energy storage systems and control systems. www.pswpower.no

Scana in brief

Scana is an active industrial owner of technology and services to both the energy and offshore industries. With an industrial history dating back to the early 1900s, Scana has evolved to become a leader in technology and innovation. This journey has provided a unique position to shape solutions for tomorrow, driven by extensive industrial experience combined with quality and value creation. Scana is headquartered in Bergen and has above 600 employees. www.scana.no