Annual Report

A year in review


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In-operation at year end

584 MW


681 GWh

Project pipeline & backlog

4.7 GW

A frontrunner in renewable energy

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Letter from our CEO

A year of sustainable growth

2018 enters history as a year of growth and several record achievements for Scatec Solar. It was also the start of another highly ambitious period of growth with new targets of 3.5 GW in operation or under construction by the end of 2021.

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Sustainability report

Sustainability is an integral part of Scatec Solar’s business model. We generate cost-effective, clean and reliable electricity and we always aim to conduct business in a sustainable manner wherever we operate.

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Geographic distribution of our employees

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Proportionate Revenues & EBITDA

Our people

The key to our success is our people

The success of Scatec Solar lies in the capabilities and commitment of our employees

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Market development

The solar market is growing strongly and with further technology improvements and cost reductions for solar components, industry analysts are expecting significant market growth in the years to come.

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Proportionate financials

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NOK Million FY 2018 FY 2017 FY 2016
Proportionate financials (1)
Revenues and other income 4,725 1,680 1,174
EBITDA 961 792 376
Operating profit (EBIT) 773 632 147
Profit/(loss) 398 326 (123)
Net interest- bearing debt 4,214 2,013 1,918
Power production (GWh) 318 282 356
SSO proportionate share of cash flow to equity (2) 481 265 104

1) See Other definitions appendix for definition. 2) See Alternative Performance Measures appendix in the annual report for definition.