EnergyWatch

Norway's Scatec Solar roars ahead thanks to Statoil

A partnership deal with Statoil secured the Norwegian solar panel developer Scatec Solar a remarkable third quarter, in which revenue more than doubled, while the bottom line went from a small loss to a profit of millions of Norwegian kroner.

Scatec Solar is roaring full speed ahead. The firm, which constructs solar panel farms in developing countries,  saw revenue this quarter and the result both skyrocket thanks to a divestment.

The consolidated revenue rose from NOK 281 million ( EUR 29.8 million) in the third quarter of 2016 to NOK 655 million in the third quarter 2017. This rubbed off positively on the operating result which went from NOK 154 million to NOK 534 million.

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