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ET | Source: Scatec Solar

Oslo, December 14, 2017: Scatec Solar ASA ('SSO') held an extraordinary general meeting on 14 December at 09:00 (CET). A total of 48,409,065 shares, representing 46.91 % of the share capital was represented at the extraordinary general meeting.

The extraordinary general meeting resolved the board's proposal of electing a new member of the Board of Directors. Please see attached for the minutes from the meeting.

For further information, please contact:

Mr. Raymond Carlsen, CEO, tel: +47 454 11 280, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Mikkel Tørud, CFO, tel: +47 976 99 144, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. 

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/d5284ec2-2c3e-4d32-9516-289521d17daa

Read more: Scatec Solar ASA: Extraordinary General Meeting...

Abstract

The report examines how Vietnam’s economy has fared in a strengthening global economy in 2017, the drivers of Vietnam’s recent economic performance, growth prospect and the country’s progress in structural reform, among others. It also includes a special... See More + The report examines how Vietnam’s economy has fared in a strengthening global economy in 2017, the drivers of Vietnam’s recent economic performance, growth prospect and the country’s progress in structural reform, among others. It also includes a special section on how to improve efficiency and equity of public spending, as budget deficit is being contained.  See Less -

Document also available in : English

Read more: Taking stock an update on Vietnam...

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ET | Source: Scatec Solar

Oslo, December 13, 2017: Scatec Solar ASA (SSO) and partners have won a 40 MW DC (30 MW AC) PV project in a tender held by the Energy Commission in Malaysia.

The power plant, located in the state of Perak in Northwest Malaysia, is expected to deliver 65 GWh of electricity per year with annual revenues of approximately USD 6 million.  Work has started to secure project finance from commercial banks in Malaysia and capex is estimated to USD 50 million.

Scatec Solar will be an equity partner, turn-key EPC provider and provide Operation & Maintenance as well as Asset Management services to the power plant. Construction start is expected in 2H 2018 with grid connection in second half of 2019.

The project will be realized together with Fumase, a US- and Malaysia-based asset management and development company focused on renewable energy in South and Southeast Asia.

"Malaysia is an attractive solar market, and our success in this tender showcases our ability to develop competitive projects in the country, and further highlights Scatec Solar's position as a leading PV player in Southeast Asia", says CEO Raymond Carlsen.

For more information please contact:

Raymond Carlsen, CEO
Mobile: + 47 454 11 280

Mikkel Tørud, CFO
Mobile: +47 976 99 144


About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.

Read more: Scatec Solar secures a 40 MW PV project in...

Abstract

As anticipated in the July Taking Stock Report, the global economy continued to strengthen in 2017. Economic activity has picked up in major advanced and emerging economies, trade is rebounding, financing conditions remain favorable, and commodity prices... See More + As anticipated in the July Taking Stock Report, the global economy continued to strengthen in 2017. Economic activity has picked up in major advanced and emerging economies, trade is rebounding, financing conditions remain favorable, and commodity prices have strengthened, albeit at a gradual pace. Global GDP growth is expected to accelerate to about 3 percent in 2017. Amidst a generally favorable global context, developing East Asia and the Pacific continued to perform well in 2017, with GDP growth in the region projected to pick up to 6.4 percent this year, bolstered by resilient domestic demand and accelerating exports, which benefited from improved global demand. Vietnam’s economy also gathered momentum in 2017, reflecting strong domestic demand, robust export oriented manufacturing, and a gradual rebound of agriculture. Real GDP expanded by 6.4 percent (y/y) during the first nine months of the year. Domestic demand and especially private consumption remained buoyant, fueled by low inflation and rising real wages. At the same time, the recovery in external demand helped Vietnam’s export-oriented manufacturing and agricultural sectors. On the production side, manufacturing growth reached 12.8 percent during the first nine months of the year, offsetting a further contraction of oil production. Agriculture also continued to recover from last year’s drought, expanding by 2.8 percent during first three quarters. Reflecting robust domestic consumption as well as strong performance of the tourism sector, the services sector expanded 7.3 percent. While promoting spending efficiency, targeted spending on pro-poor services and infrastructure should be maintained. There is robust evidence that shows the pro-poor benefits of Vietnam’s investment in ensuring equal access to key public services, namely health, education and rural infrastructure. Reduced budget financing to pro-poor services therefore entails a risk of widening inequities in access to basic services. Vietnam is actively pursuing a set of interrelated policies, including socialization, designed simultaneously to improve the performance of government service delivery, increase citizen choice, reduce the financial burden upon the state. The overall goal is to gradually rationalize the role of the state in the provision of public goods. While these reforms can enhance incentives for efficiency gains both for service providers and service users, it is crucial to assess and, if needed, mitigate the potential adverse distributional impacts of these policies on the poor and vulnerable.  See Less -

Read more: Taking stock an update on Vietnam...

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