Scatec completes the Kalkbult, Linde, and Dreunberg transaction in South Africa Oslo, 20 November 2024: Scatec ASA, a leading renewable energy provider, has closed the second and final phase of the previously announced sale of parts of its ownership in the Kalkbult, Linde and Dreunberg solar power plants to Greenstreet 1 Proprietary Limited, a subsidiary of STANLIB Infrastructure Fund II, managed by STANLIB Asset Management Proprietary Limited (“STANLIB”). Scatec received ZAR 433 million (USD 24 million) in gross proceeds for its ownership sold in the second phase and has in total received...
Scatec third quarter 2024: Strong financial performance Oslo, 1 November 2024: In the third quarter, Scatec reported proportionate revenues of NOK 2.42 billion (2.37 billion), with an EBITDA of NOK 1.52 billion (0.89 billion). Scatec’s power plants generated 1,254 GWh in the quarter, up from 1,047 GWh in the same quarter last year on a proportionate basis, mainly driven by new plants in operation. Power production revenues were NOK 1.77 billion (1.04 billion) and EBITDA ended at 1.54 billion (0.81 billion). The increase was mainly driven by an accounting gain from the divestment in South ...
Invitation to presentation of Scatec ASA’s third quarter results 2024 Oslo, 21 October 2024: Scatec ASA will release its third quarter results and provide a status update of its strategy, on Friday 1 November 2024 at 07:00 am (CET). A presentation of the results followed by a Q&A session will be held on the same day at 09:00 am at Scatec’s headquarters at Skøyen Atrium III (1st floor), Askekroken 11, 0277 Oslo. The presentation and the Q&A session can be followed through a live webcast from our website , or . For further information, please contact: For analysts and investors: Andrea...
Scatec reaches financial close and prepares for construction start for battery energy storage project in South Africa Oslo, 18 October 2024: Scatec ASA, a leading renewable energy provider, has reached financial close for the Mogobe battery energy storage system (“BESS”) facility totaling 103 MW / 412 MWh and is now making final preparations to start construction of the project. Mogobe BESS was awarded a 15-year power purchase agreement (PPA) under the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) in South Africa. As part of the...
Reported Q3 EBITDA of NOK-90m was far below consensus (NOK-61m) and our estimate (NOK-69m). The backlog keeps declining, and cash burn continues to exceed our expectations. Still, management remains hopeful, guiding for significantly improved EBITDA in Q4 and sees signs of a market recovery. Nel plans to increase focus on costs and expects 50% lower capex YOY. We had expected even lower 2025 capex, as capacity expansion projects in Norway and the US are completed, and we have thus increased our ...
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