Scatec Solar Capital Markets Update: Accelerating growth - targeting 3.5 GW by end 2021
May 30 2018 - 1:00AM
Oslo, 30 May 2018: Scatec Solar
ASA is today hosting a Capital Markets Update, where management
presents its accelerated growth ambitions towards 2021.
The highlights are:
-
Setting a new growth target of 2
GW, bringing total capacity above 3.5 GW by end 2021
-
20-25 years annual cash flow
from 3.5 GW of operating power plants is expected to reach NOK
750-850 million (15% post tax equity IRR)
-
Development & Construction
net contribution of NOK 2.0-2.5 billion (12-15% gross margin)
"This year,
we deliver on our 1.5 GW growth target, and we now move forward
with a target of more than doubling installed capacity by end
2021. Execution of the existing portfolio together with new growth
- primarily through new large-scale PV opportunities - are the main
building blocks of our growth plans", says Raymond Carlsen, CEO
of Scatec Solar ASA.
He continues: "In
addition, there are attractive opportunities for Scatec Solar
within the market for corporate PPAs and hybrid solutions, as
market develops and we are broadening our commercial and
technological scope. As our business is rapidly expanding we also
see opportunities to further enhance value of our asset portfolio
through debt refinancing and asset rotation".
The Capital Markets Update event
will be held at CET 09:30 - 12:30 at Oslo Konserthus,
Munkedamsveien 14, Oslo. The program includes presentations by the
executive management in Scatec Solar.
A live webcast of the
presentations will be available on our website
www.scatecsolar.com/investor. The presentation material is attached
to this notice and is also available for download on our
webpage.
Contact
person
Mr. Mikkel Tørud, CFO,
Tel: +47 976 99 144
mikkel.torud@scatecsolar.com
About Scatec
Solar
Scatec Solar is an integrated independent solar power producer,
delivering affordable, rapidly deployable and sustainable clean
energy worldwide. A long-term player, Scatec Solar develops,
builds, owns, operates and maintains solar power plants and has an
installation track record of 1,000 MW.
The company is producing
electricity from 322 MW of solar power plants in the Czech
Republic, South Africa, Rwanda, Honduras and Jordan and has 1,092
MW under construction. With an established global presence, the
company has project backlog and pipeline of 4.0 GW under
development in the Americas, Africa, Asia and the Middle East.
Scatec Solar is headquartered in
Oslo, Norway and listed on the Oslo Stock Exchange under the ticker
symbol 'SSO'. To learn more, visit www.scatecsolar.com
Capital Markets Update May
2018
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Scatec Solar ASA via Globenewswire
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