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Scatec Solar ASA (SSOL.OL)

SSOL.OL on Oslo Stock Exchange

48.50NOK
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Scatec Solar Secures Project In Malaysia
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - SCATEC SOLAR ASA ::REG-SCATEC SOLAR SECURES A 40 MW PV PROJECT IN MALAYSIA.WORK HAS STARTED TO SECURE PROJECT FINANCE FROM COMMERCIAL BANKS IN MALAYSIA AND CAPEX IS ESTIMATED TO USD 50 MILLION.  Full Article

Statoil and Scatec complete Brazil solar deal
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Statoil Asa :‍Statoil and Scatec Solar have completed their previously announced transaction, whereby Statoil acquires a 40% share in construction-eady 162 MW Apodi solar asset in Brazil from Scatec .Following the transaction Scatec Solar and Statoil both hold a 43,75% share in the Apodi solar asset, and ApodiPar holds the remaining 12,5%.Statoil has paid a combined acquisition price of approximately USD 25 million for access to the Apodi solar asset and the project execution company..The Apodi solar project will provide approximately 160,000 households with electricity..  Full Article

Scatec Solar Q3 EBITDA rises to NOK ‍595​ million
Friday, 20 Oct 2017 

Oct 20 (Reuters) - SCATEC SOLAR ASA :Q3 REVENUE NOK ‍655​ MILLION VERSUS NOK 281 MILLION YEAR AGO.Q3 EBITDA NOK ‍595​ MILLION VERSUS NOK 222 MILLION YEAR AGO.INVESTMENTS IN NEW SOLAR POWER PLANTS ARE EXPECTED TO YIELD AVERAGE EQUITY IRR OF 15% NOMINAL AFTER TAX​.  Full Article

Scatec Solar sells the 104 MW Utah Red Hills solar plant
Monday, 3 Oct 2016 

Scatec Solar ASA : Has entered into an agreement for sale of 100 pct of sponsor equity in 104 MW (DC) Utah Red Hills solar power plant with MIC Renewable Energy Holdings Llc . Proceeds are subject to further working capital adjustments at closing . Consolidated book value of Scatec Solar's sponsor equity in project company is $21 million while total balance sheet value is $137 million including project finance debt . Sale is expected to generate gross proceeds to Scatec Solar of $28 million .Transaction is expected to close before end of 2016.  Full Article

Scatec Solar Q2 EBITDA up at NOK 153 million
Friday, 22 Jul 2016 

Scatec Solar ASA : Q2 revenue 213 million Norwegian crowns ($25 million), up from 205 million crowns year ago . Q2 EBITDA 153 million crowns versus 146 million crowns year ago . Says power production reached 183 GWh, up 104 pct year on year . Q3 2016 power production is expected to reach 205,000 MWh . Q3 production from the 104 MW Utah Red Hills plant is expected to be broadly similar to Q2 levels .Operation and Maintenance (O&M) revenue in 2016 are estimated to 60 million - 65 million crowns with EBITDA margin of 40-50 pct.  Full Article

Norwegian government buys carbon credits from Scatec Solar
Wednesday, 13 Apr 2016 

Scatec Solar ASA:Norway's Climate and Environment Ministry has signed an agreement to buy UN-certified carbon credits from three of Scatec Solar's power plants in West Africa.About 330,000 tons of CO2 emissions will be avoided from these solar plants during a three-year period ending 2020.The Purchase Agreement for the Certified Emission Reduction (CER) includes an option to extend the contract thereafter.  Full Article

Scatec Solar proposes NOK 0.66 as dividend
Monday, 14 Mar 2016 

Scatec Solar ASA:Proposes a dividend of 0.66 Norwegian crowns per share (based on 93,816,230 shares outstanding).  Full Article

Scatec Solar ASA acquires majority stake in 2 two solar projects in Brazil
Monday, 1 Feb 2016 

Scatec Solar ASA:Secures 78 MW solar projects in Brazil.Has signed deal with Spanish company, Grupo Gransolar, to acquire a majority stake in two solar projects totalling 78 MW (DC) in the state of Piaui in Brazil.Will own 70 percent of the equity and Gran Solar 30 percent.Says will build, own and operate the two power plants in Piaui.Projects will enter into 20-year Power Purchase Agreements (PPAs) with ANEEL.Solar power plants are expected to provide about 164,000 MWh annually to the grid, generating revenues of about 55 million Brazilian Real per year.Total capital expenditure to realise plants are estimated to BRL 418 million.Construction is expected to start in Q1 2017​​.  Full Article

Scatec Solar ASA anounces long term financial targets
Friday, 29 Jan 2016 

Scatec Solar ASA:By year end 2016 targets 750–900 MW in operation and under construction, of which 550-600 MW in operation.By year end 2018 targets 1,400-1,600 MW in operation and under construction‍​.Investments in new solar power plants are expected to yield average equity IRR of 15 pct nominal after tax.2016 cash flow to Scatec Solar equity expected to reach 180 million-200 million crowns from Power Production and Operation & Maintenance based on currency exchange rates as of mid-January 2016.  Full Article

Private equity fund Norfund shifts focus to West Africa - CEO

OSLO, Nov 2 Private equity company Norfund is turning its attention to West Africa to balance its regional spread after focusing on the continent's south and east in the past decade, its CEO said.