Rising Nordic power prices lifted Statkraft’s fourth-quarter results
The Norwegian renewable energy company cited rising prices, cost reduction plans and lucrative transactions as the main reason for its positive update. The average Nordic energy price in the quarter was €47.7/MWh, an increase of 56% from the same period a year earlier.
REC Silicon to suspend production at Moses Lake poly factory
Norway-headquartered REC Silicon has revealed plans to halt operations at its Moses Lake facility in the U.S. in 17 days’ time. The company says it has taken the decision to maintain liquidity for its semiconductor business with American workers set to pay the price for President Trump’s trade war with China.
Scatec off to a strong start in 2019 with solid financials and pipeline additions
Having put key PV projects into commercial operation, the company is capitalizing on their production. Scatec also has twice its current installed capacity under construction and nearly fourfold that amount – more than 4 GW – in the pipeline as 2018 expectations were surpassed.
PV Evolution Labs to go it alone again outside DNV GL
The PV panel testing company has left the fold four years after being acquired by DNV GL. Insiders have stressed the move should not be problematic as PVEL was allowed a degree of independence after it was acquired.
Unlocking Scandi-candy for PV projects in developing countries
A new report suggests that better guarantee mechanisms and securities could unlock more investments from Scandinavia for renewable energy projects in developing countries. Overall, however, it finds that Norway, Sweden and Denmark have comprehensive mechanisms in place for bringing together industry and public support schemes.
EGM vote to reduce historic battery maker’s debts
Venerable Swiss brand Leclanché is on an expansionist trail, notably in India and low-carbon shipping, but restructuring its debts will involve ceding even more control of the famous company to institutional investors.
Equinor takes 9.7% stake in Scatec Solar
The Norwegian oil producer has already partnered with Scatec on large-scale PV projects in Brazil and Argentina. The transaction cost $82.4 million.
REC Silicon posts loss for second quarter running amid poly market slump
The Norwegian polysilicon producer posted an EBITDA loss of $6.1 million for the third quarter of 2018, as it continues to struggle with low demand and prices. Revenue for the company’s solar materials segment fell almost 70% on the previous quarter.
Scatec Solar reports higher revenue, lower profits
The Norwegian developer had 357 MW of PV projects in operation and 1,057 MW under construction at the end of the third quarter of this year.
Leclanché: Revenues doubled, EBITDA in the red
While revenues have doubled year on year, Leclanché says its EBITDA is suffering from high operational expenses and one-off payments. However, the goal to post a positive EBITDA by 2020 is on track, it adds.
