30 Jul '15, 5am

Scatec Solar announces strong Q2, 2015 results, substantial growth in PV project pipeline

The independent solar power producer Scatec Solar ASA (Oslo, Norway) added gross 747 MW to the photovoltaic (PV) project pipeline in Q2, 2015. The projects are located in Pakistan, Egypt, Kenya and South Africa and total PV pipeline by these additions is 1,172 MW, the company announced. Scatec Solar `s consolidated revenues reached NOK 205 million (approx. USD 25 million), up from NOK 93 million (approx. USD 11 million) in the same period last year and down from NOK 225 million (approx. USD 26 million) in Q1, 2015. Construction activities are driving a significant increase in cash generation Consolidated EBITDA reached NOK 146 million (approx. USD 18 million) up from NOK 52 million (approx. USD 6.5 million) last year while the previous quarter was NOK 178 million (approx. USD 22 million). Due to the winter season in South Africa it was expected that both revenues and EBITD...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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Q3 results: Strong growth in revenue and earnings

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