Norwegian integrated solar producer has doubled production

Scatec Solar, a Norwegian integrated solar producer, has doubled production since last year.That’s amazing.

Total installed products in q2 2016 reached 183GW — similar to the previous quarter, but 104% higher than the same period last year. A number of key projects have contributed to the growth: notable projects include the Oryx Solar Power plant in Jordan with a total capacity of 10MW and the GLAE Solar Power plant with a total capacity of 11MW. It is worth noting that in the second quarter of 2016, the seasonal decrease in demand for South African products was mainly due to increased use of products from the United States and the Czech Republic in South Africa.

Revenue increased to $25 million in q2 2016 compared to $24 million in Q2 2015, but decreased compared to $26.8 million in Q1 2016.

Net profit fell to $700,000 from $2.5 million a year earlier, but was much better than the $2.7 million loss in the previous quarter.

“We had solid financial results in the second quarter and we are working hard to move into the commercial solar market. The outlook is positive, we will continue to invest in our backlog and will see more shifts in the near term to reach our goal of long-term growth in the future.” Says CEORaymong Carlsen of Scatec.

We Lingtech solar will also continue to work closely with Norwegian solar companies and home users.