Egypt Boosts Scatec Solar’s Record Q2 Results

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  • Scatec Solar delivered record results in second quarter 2019 with proportionate revenues increasing  46% year on year.
  • Power Production reached 198 GWh on proportionate basis, almost tripling production compared to the same period last year.

Today Norwegian renewable energy company Scatec Solar, reports that second quarter revenues and EBITDA continued to grow compared to the same quarter last year. This has been largely due to continued high activity in the Development & Construction segment with revenues of NOK 1,339 million and a gross margin of 14%. In the Power Production segment, installed capacity was 911 MW at the end of second quarter, delivering EBITDA of NOK 221 million.

“We deliver our best quarter ever with growth across all business segments. The high activity continued in all regions with grid connection of 326 MW in Egypt and Malaysia and construction start for 247 MW in Ukraine. Our project backlog and pipeline exceed 5 GW, reflecting that we are strengthening our market position and expanding partnerships in key regions“, says Raymond Carlsen, CEO of Scatec Solar.

Scatec Solar is a leading integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide.

Link to full report here.

Author: Bryan Groenendaal


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