Scatec reports stable sales and profits

Scatec solar power plant (in Jordan)

The Norwegian project developer and operator of solar power plants Scatec Solar ASA generated sales of NOK 1.259 billion ($153 million) in the third quarter of this year - 2.4 percent more than in the second quarter (NOK 1.229 billion) and 36.3 percent more than in the same quarter of the previous year (NOK 924 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) were NOK 257 million ($31.2 million), 3.4 percent less than in the second quarter (NOK 266 million) and 48.6 percent less than in the same quarter last year (NOK 500 million). Scatec calculates these figures as »Proportionate revenues and EBITDA« based on its shares in various subsidiaries.
The company currently has a portfolio of solar power plants with 357 MW in operation, 1.06 GW under construction and 459 MW in preparation. Scatec puts the project pipeline at 3.82 GW. According to the company, the development in sales and profits is attributable to a significant increase in development and construction (D&C) activities, while the other areas - operation and maintenance (O&M) as well as power generation - remained largely stable.

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