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|
|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|
|Revenues and other income||376||286||702||575|
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)