Annual Report
2018 2
Our vision
Improving our future
Our mission
To deliver competitive and sustainable solar energy globally, to protect our environment and to improve quality of life through innovative integration of reliable technology
Our values
Predictable Working together Driving results Changemakers Scatec Solar ASA - Annual Report 2018 3
Contents
Scatec Solar in brief 4 Value chain 6 Market development 7 CEO letter 8 Our people 10 Sustainability highlights 12 Report from the Board of Directors 15 Executive Management 34 Board of Directors 36 Consolidated financial statements Group 40 Notes to the Consolidated financial statements Group 46 Parent company financial statements 112 Notes to the parent company financial statements 116 Other definitions 137 Responsibility statement 138 Alternative Performance Measures 139 Appendix 142 Auditor’s report 144 4
Scatec Solar in brief
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. As a long-term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and has solid installation track record of more than 1 GW.
The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. Scatec Solar ASA - Annual Report 2018 5
Key facts
Employees In operation FY 2018 Project pipeline at year-end production & backlog
246 584 681 4.7 MW GWh GW
Market capitalisation at year-end Proportionate Revenues & EBITDA NOK BILLION NOK MILLION
10 000
8 000