(NOK million 2019)
(NOK million 2019)
MW in operation
Number of employees
Stock exchange notices
- 06.04.20 - Scatec Solar reorganises its segment reporting structure
- 06.04.20 - Scatec Solar’s 258 MW Upington project in South Africa completed
- 31.03.20 - Scatec Solar secures guarantees with MIGA in Egypt
- 27.03.20 - Notice of Annual General Meeting of Scatec Solar ASA
- 27.03.20 - Scatec Solar’s Annual Report and Sustainability Report for 2019
- 26.03.20 - Scatec Solar establishes credit facilities of USD 165 million to increase financial flexibility, reduce funding cost and support growth. The Board proposes to pay 2019 dividend at a later stage, when market conditions have normalised.
- 25.03.20 - Scatec Solar experiences limited impact on operating solar plants from the COVID-19 outbreak
- 25.02.20 - Another 86 MW of Scatec Solar’s 258 MW solar power complex in South Africa in commercial operation
28.04.20 - Annual General Meeting
08.05.20 - First quarter results 2020
17.07.20 - Second quarter results 2020
16.10.20 - Third quarter results 2020
Scatec Solar normally publishes its quarterly results at 07:00 am (CET). The results will be available at the company’s website and at Oslo Stock Exchange’s Newsweb. An open presentation of the results are held in Oslo the same day.
Silent periods normally start around three weeks before the quarterly results are published.
The dates are subject to change.
Scatec Solar is a leading integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. As long- term player, Scatec Solar develops, builds, owns, and operates solar power plants
- Project track record of more than 1.5 GW
- Solar plants in operation totaling 1,451 MW
- 453 MW under construction
- Project backlog and pipeline of 5.8 GW
- A target to reach 4.5 GW in operation and under construction by year-end 2021
Scatec Solar develops, builds, owns and operates large scale solar power plants.
The solar power plants are structured in project companies (single purpose vehicles) and financed with equity and non-recourse project finance debt. This structure offers isolation of operational and financial risks related to each individual project, and limits Scatec Solar’s exposure to the equity invested and retained in the respective project companies. A large share of the funding of Scatec Solar’s equity investments in the project companies are generated through Scatec Solar’s Development & Construction activities.
Free cash flow generated in the project companies is transferred to Scatec Solar as contributions and/or dividends on a semi-annual basis in accordance with the financing agreements. First distribution typically occurs after 12-18 months of plant operation.
In November 2017 Scatec Solar successfully completed a NOK 750 million senior unsecured green bond issue with maturity in November 2021. The bonds carry an interest of 3 month NIBOR + 4.75% and was listed on the Oslo Stock Exchange 6 April 2018 with ticker SSO02 G.
The proceeds from the bond issue was used for a full redemption of the NOK 500 million senior unsecured green bond issued in November 2015 with maturity in November 2018 and will be used for financing of eligible activities as defined in the Scatec Solar green bond framework. The NOK 500 million bond carried an interest of 3 month NIBOR + 6.50%.
In addition to the corporate bond, Scatec Solar ASA has a USD 60 million Multicurrency Revolving Credit Facility with Nordea Bank and ABN Amro with maturity in March 2021 and a USD 5 million overdraft facility with Nordea Bank made available on a multicurrency top account in the group account cash pool.