Scatec’s third-quarter results revealed a notable financial performance with proportionate revenue reaching NOK 2.42 billion (~$224 million), up from NOK 2.37 billion (~$219 million) in the previous year, alongside an EBITDA increase to NOK 1.52 billion (~$141 million) from NOK 0.89 billion (~$82 million). Power production revenue rose to NOK 1.77 billion (~$164 million), driven primarily by high output from operations in the Philippines and Ukraine. The Development & Construction division generated NOK 631 million (~$58 million) from ongoing projects in South Africa and Botswana, achieving a gross margin of 12%. Scatec’s total energy generation reached 1,254 GWh, a year-over-year increase attributed to new operational plants. By year-end, Scatec anticipates its power production to be between 4.2 and 4.3 TWh, with a revised full-year EBITDA forecast of NOK 4,150–4,350 million (~$384–$402 million).
Scatec announces increased Q3 revenue from global power operations
Scatec’s Development & Construction division contributed NOK 631 million through projects in South Africa and Botswana this quarter. (Image Source: SOLARbytes)
The sale of Westbridge’s 75% stake in Sunnynook Solar to METLEN was completed, set to power 50,000 Alberta homes. (Image Source: Pixabay)
Module shipments in Q3 2024 reached 25,910 MW, with N-type modules comprising 90% of all shipments. (Image Source: SOLARbytes)
With revenue growth and a strong order book, AGEL sets its sights on 2025 IPO to strengthen financial resilience. (Image Credit/Source: KindelMedia/Pexels)
Runergy provides insights into ITC’s Section 337 timeline, countering misleading interpretations of its 45-day and 60-day procedural references. (Image Source: Runergy)