The independent solar power producer Scatec Solar ASA (Oslo, Norway) on May 6th, 2015 reported consolidated revenues of NOK 225 million (approx. USD 30 million) in the first quarter up from NOK 196 million (approx. USD 26 million) in Q4, 2014 and NOK 57 million (approx. USD 7.7 million) in the same period last year.
Consolidated EBITDA reached NOK 178 million (approx. USD 24 million), up from NOK 133 million (approx. USD 18 million) in the previous quarter and 29 million (USD 4 million) in the first quarter of 2014. Consolidated net profit ended at NOK 47 million (approx. USD 6.3 million of which NOK 19 million (approx. USD 2.6 million) net to Scatec Solar.
“We report solid results for the first quarter 2015 with steady increase in cash generation from our asset portfolio. The project awards in South Africa confirms our position as the leading solar IPP in Africa and creates a solid platform for continued growth of our assets across key markets in the years to come,” says CEO Raymond Carlsen, Scatec Solar ASA.
Scatec Solar awarded three PV projects with a combined capacity of 258 MW in South Africa
Scatec Solar develops, builds, owns and operates solar power plants. Scatec Solar's proportionate share of cash flow to equity across these business activities reached NOK 42 million in the first quarter 2015.
In April 2015, the Department of Energy of South Africa awarded Scatec Solar three solar PV projects with a combined capacity of 258 MW in the fourth round of the “Renewable Energy IPP Procurement Programme”. The plants will be located in Upington in the Northern Cape region and construction is expected to start in early 2017.
Construction of new solar power plants in the USA, Honduras and Jordan is currently well under way, and with the recent win in South Africa, Scatec Solar now holds 266 MW in project backlog.
The company has furthermore a project pipeline of 468 MW and additional project opportunities of 1.7 GW under development in Africa, Middle East, Americas and Asia.
2015-05-07 | Courtesy: Scatec Solar | solarserver.com © Heindl Server GmbH
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