Scatec Solar’s power production doubled in Q2 2016

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Source: Scatec Solar

Norwegian integrated independent solar power producer Scatec Solar doubled its power production from last year, according to a Stock Exchange filing.

Power production reached 183GWh – similar to the previous quarter, but up 104% year-on-year. A few key projects contributed to this increase; notably the 10MW Oryx plant in Jordan and the 11MW GLAE plant also in Jordan. According to the notice, seasonally lower production in South Africa in Q2 2016 was offset by higher production in the US and Czech Republic.

Consolidated revenues reached NOK213 million (approximately US$25 million) in Q2 2016, up from NOK215 (approximately US$24 million) in the same period last year, but down from NOK228 million (approximately US$26.8 million) in the previous quarter.

Net income reached NOK6 million (US$0.7 million) down from NOK21 million (US$2.5 million) last year, but up from a loss of NOK23 million (US$2.7 million) in the preceding quarter.

“In the second quarter we are delivering another set of solid financial results, and we are placing new solar plants in commercial operation. The market outlook is positive and we continue to invest in our project backlog and pipeline. While we see some shifts in short term timelines on realisation of new capacity our long-term growth targets remain intact.” said Scatec Solar's CEO, Raymond Carlsen.

Read Next

January 19, 2022
Renewables developer R.Power has signed a power purchase agreement (PPA) with energy trader Axpo for nearly 300MWp of solar in Poland.
PV Tech Premium
January 18, 2022
Solar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.
January 18, 2022
Hive Hydrogen and Linde plc have teamed up to establish the “world’s largest green ammonia export plant” in Nelson Mandela Bay, South Africa that will have a 780,000 ton/year production capacity.
PV Tech Premium
January 14, 2022
Raising more than US$1 billion in equity capital in the past year, US independent power producer (IPP) Silicon Ranch is looking to expand its model of developing, owning and operating large-scale PV plants while maintaining a strategy of co-locating projects with regenerative agriculture.
January 14, 2022
SMA Solar has cut its earnings forecast for the year by more than half pending a contract issue affecting its operations and maintenance business.  
January 11, 2022
PosiGen, a US provider of residential solar and efficiency solutions for low- to moderate-income (LMI) households, has secured US$100 million in preferred equity financing.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal