•  
  •  
  •  

Scatec Solar says Q2 was best quarter ever

Source: Scatec Solar (www.scatecsolar.com)

July 22 (Renewables Now) - Norwegian independent power producer (IPP) Scatec Solar ASA (OSL:SSO) reported a second-quarter profit of NOK 142 million (USD 16.6m/EUR 14.8m) on a proportionate basis in what it described as its “best quarter ever with growth across all business segments”.

Still, consolidated profits were lower in both the second quarter and the first half of 2019. See the table below for details.

Results in NOK million Q2 2019 Q2 2018 H1 2019 H1 2018
PROPORTIONATE FINANCIALS        
Revenue and other income 1,648 1,229 3,177 1,801
- of which development and construction 1,339 1,045 2,636 1,462
EBITDA 388 266 703 375
EBIT 298 226 531 297
Profit 142 85 265 85
CONSOLIDATED FINANCIALS        
Revenues and other income 376 286 702 575
EBITDA 290 212 531 425
EBIT 188 150 333 300
Profit 21 102 33 114

Scatec Solar has 911 MW in operation, in which its economic interest amounts to 61%. A further 993 MW of projects are under construction. In the second quarter, it achieved grid connection of 326 MW of capacity in Egypt and Malaysia, and initiated construction of 247 MW in Ukraine.

(NOK 10 = USD 1.17/EUR 1.04)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription