Scatec Solar, an independent power producer, has completed a private placement, raising approximately NOK 4,750 million (~$514.94 million) in gross proceeds by allocating 20,652,478 shares subscription price of NOK 230 (~$24.93) per share. This represents a 6.08% discount to the 10-day volume-weighted average price and a 6.43% discount to the last closing price. The private placement’s net proceeds will be used to refinance $300 million of the acquisition facilities totaling $700 million provided by BNP Paribas, DNB Bank ASA, Nordea Bank Abp, filial i Norge and Swedbank for the acquisition of SN Power. The remaining amount would be used for growth capital and general corporate purposes.