NUST Researchers Designed a Water-Based Solar Cleaning Module
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Scatec, an independent power producer (IPP), has increased project development activity after seeing its earnings fall by nearly 14% year on year.
Scatec, an independent power producer (IPP), has increased project development activity after seeing its earnings fall by nearly 14% year on year.
Higher power sales activities in the Philippines have partially offset lower revenues in Ukraine, which had a negative impact on the company's first-quarter results.
In the second quarter of 2022. the IPP reported revenues of NOK1.130 billion (US$115.16 million), up from NOK1.007 million in the same period last year. However, earnings fell nearly 14% from NOK601 million to NOK517 million (US$52.53 million).
Scatec increased its solar project development in the second quarter, beginning construction on a 540MW solar PV co-located with 1.1100MWh battery storage in South Africa, a 531MW solar plant in Brazil, and a 150MW solar plant in Pakistan.
The company's backlog has decreased from 1.7GW in Q1 2022 to less than 1GW at the end of Q2. with 3.3GW of operational renewable assets and a pipeline of 14.7GW, up 2.5GW from Q2 2021.
Furthermore, the IPP's power-to-X activities have advanced, with Scatec now putting its 100MW electrolyzer green hydrogen project in Egypt on hold. The project, which is expected to produce one million tonnes of green ammonia per year, will be powered by 260MW of solar and wind power.
"Going forward, our top priority is to ramp up construction activities, optimize returns on our backlog projects, and continue to mature our pipeline," said Terje Pilskog, CEO of Scatec.
Scatec increased its EBITDA guidance for 2022 to NOK2.5-2.7 billion, an increase of NOK150 million, reflecting currency exchange rates as of the end of the second quarter.
The IPP expects power production to reach 1.060-1.160GWh in Q3 2022. which is 25% higher than the Philippines' average for the next three months.
Scatec, an independent power producer (IPP), has increased project development activity after seeing its earnings fall by nearly 14% year on year.
Scatec, an independent power producer (IPP), has increased project development activity after seeing its earnings fall by nearly 14% year on year.
Researchers at the National University of Science and Technology developed a solar panel cleaning system that wipes solar panels and increases the efficiency of the PV panels.
A Chinese EV manufacturer recently announced the establishment of an electric vehicle plant and showrooms in Pakistan. The plan is to set up EV showrooms in multiple cities in Pakistan.
Pakistan’s first-ever solar power project, Quaid-e-Azam Solar Park, contributes 400MW (75%) of electricity to the cumulative production capacity of 530 MW.