The Norwegian solar PV company, Scatec Solar, has announced that it has almost doubled its installed production capability to 220 mw. This announcement follows revenue and growth driving grid connections of three solar pv power plants in South Africa and Rwanda.
The Scandinavian solar company have seen a very strong upturn in sales over the third quarter. They have generated NOK 100 million more in sales than they did over the same period last year. The Norwegians are drastically reducing their loss.
Recently, Scatec have posted revenue of NOK 130.2 million ($19 million). This figure is up from NOK 31.1 million from last year.Over the same period, Scatec have seen their third quarter loss fall to NOK 7.4 million from NOK 29.9 million.
In addition to doubling their solar pv production capacity with the plants in Rwanda and South Africa, Scatec will generate extra revenue and profit from the sale of electricity from additional solar plants in South Africa, Rwanda and the Czech Republic.
Raymond Carlsen, Chief Executive Officer of Scatec has stated that the Norwegian company had finished three solar pv plants in recent months. These include the 9 mw ASYV solar power plant in Rwanda as well as both the 40 mw Linde and 75 mw Druenberg projects in South Africa. Mr Carlsen said “Together with our existing assets, these plants will generate solid cashflows over the next 20 years.” He also went on to point out that Scatec was on course to secure financing for future projects in Honduras, Jordan and the United States of America. “With construction of these power plants we will double gross installed capacity to 433 mw by the end of 2015” added Mr Calsen.
Scatec now have a worldwide portfolio which includes three projects in South Africa and four projects in the United Kingdom.