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ET | Source: BluEarth Renewables Inc.

CALGARY, Alberta, Sept. 18, 2017 (GLOBE NEWSWIRE) -- BluEarth Renewables LP (BluEarth) is pleased to announce it has completed the acquisition of four operating renewable energy facilities from Veresen Inc., including three run-of-river hydro facilities in British Columbia and one wind facility in Ontario. These facilities have a weighted average contract life of 22 years and represent 85 megawatts (MW). Financial terms of the acquisition are confidential.

“In addition to pursuing greenfield opportunities, BluEarth’s growth strategy includes pursuing targeted acquisitions where we can take full advantage of our existing footprint and operational bench strength,” said Grant Arnold, BluEarth’s President & Chief Executive Officer. “With this acquisition, we now have a portfolio of over $1.7 billion of renewable energy facilities in operation and construction.”

Mr. Arnold added, “In just seven short years, we have built one of the strongest portfolios of long-term contracted renewable energy assets, a strong balance sheet supported by our strategic owner, Ontario Teachers’ Pension Plan Board, and one of the most experienced, passionate and dedicated teams in our industry. Beyond our operated facilities and those under construction, we also have a robust development portfolio across Canada. We are proud to show how business can be sustainable and profitable, leaving the world a better place.” 

Blake, Cassels & Graydon LLP acted as legal counsel and RBC Capital Markets acted as financial advisor to BluEarth for the acquisition.

About BluEarth Renewables

Headquartered in Calgary, BluEarth is a private, independent renewable power producer, focused on the acquisition, development, construction, and operation of wind, water, and solar projects. BluEarth’s majority shareholder is the Ontario Teachers’ Pension Plan Board.  BluEarth's mission is to be a Canadian based renewable energy leader by developing, building, and operating a portfolio that optimizes people, planet, and profit. BluEarth believes it has The Power to Change the FutureTM by demonstrating how to be sustainable and profitable, leaving the world a better place. For more information, visit www.bluearth.ca or follow us on twitter @BERenewables.

For more information, contact:

Dorreen Miller                   
Director, Communications                      
BluEarth Renewables
(587) 324-4238                          
This email address is being protected from spambots. You need JavaScript enabled to view it.

Calgary, Alberta, CANADA

  http://www.bluearthrenewables.com/

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ET | Source: RGS Energy

DENVER, Aug. 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, reported results for its second quarter ended June 30, 2017. The company also filed its quarterly report on Form 10-Q, as well as posted supplemental financial information on the quarterly results page in the Investor Relations section of its company website.

Q2 2017 Financial Summary

(000’s omitted) Q2 2017
  Q1 2017
  Q2 2016
Net loss $(4,030)   $(4,034)   $(3,463)
Stockholders’ equity (deficit)   13,904     17,886     (4,966)
Working capital $12,743     $15,857     $(2,653)

The company believes it has adequate financial capital to grow its top-line revenue and achieve break-even and thereafter better results, in future periods. Implementation of this strategy requires up-front expenses to expand sales teams, marketing for customer leads and development and implementation of new products and services, which are required investments before the company can expect to realize increased sales. 

Growth Strategy Update
The company earlier issued a business update announcing progress on its top-line revenue growth strategy.

Second quarter of 2017 results compared to the first quarter of 2017:

  • Gross sales increased 2X
  • Net sales increased 3X
  • Size of the company’s sales organization increased 40%
  • Average number of sales per direct sales person increased 24%
  • Acquisition cost-per-sale decreased 34%
  • Residential cycle time reduced 31%

Management Commentary
“In Q2, our progress was in-line with expectations that we set in our last business update,” said Dennis Lacey, CEO of RGS Energy. “It is important to note that Q2 was our first full quarter of operating with what we believe is appropriate working capital in place to effectively pursue our growth strategy. As this is the first quarter on this basis, we are heartened by the positive trends.”

Conference Call
RGS Energy will hold a conference call to discuss its second quarter 2017 financial results later today.

Date: Wednesday, August 9, 2017
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-877-545-1407
International dial-in number: 1-719-325-4929
Conference ID: 9865811
Webcast: http://public.viavid.com/index.php?id=125727

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through August 16, 2017.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9865811

About RGS Energy 
RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “expect,” “target,” “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: RGS Energy’s ability to successfully implement its growth strategy, achieve its target level of sales, generate cash flow from operations, achieve break-even and better results, expand its sales teams and marketing, decrease its customer acquisition cost, and develop and implement new products and services; and RGS Energy’s current capital resources being sufficient to implement its growth strategy.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy
Condensed Consolidated Balance Sheets
(in thousands)
  June 30, 2017 December 31, 2016 June 30, 2016
Cash $9,745 $2,940 $490
Restricted Cash - 173 8,250
Other current assets 6,516 6,742 8,844
Total current assets 16,261 9,855 17,584
Non-current assets 4,196 4,518 4,386
Total assets $20,457 $14,373 $21,970
       
Debt $1 $787 $5,609
Accounts payable 547 2,019 7,107
Other current liabilities 2,970 3,469 7,521
Total current liabilities 3,518 6,275 20,237
Non-current liabilities 3,035 3,120 6,698
Total liabilities 6,553 9,395 26,935
       
Stockholders’ equity (deficit) 13,904 4,978 (4,965)
Total liabilities and stockholders’ equity $20,457 $14,373 $21,970
       
Other information:      
Working Capital $12,743 $3,580 $(2,653)
RGS Energy
Consolidated Summary Statements of Operations
(in thousands, except per share amounts)
  Three Months Ended June 30, Six Months Ended June 30,
  2017 2016 2017 2016
Contract Revenue:        
Sale and Installation of Solar Systems $2,708 $4,750 $6,070 $9,553
Service 277 133 568 270
Leasing 12 14 25 28
Contract Expense:        
Installation of solar systems 2,668 4,175 5,744 8,692
Service 491 291 809 630
Customer acquisition expense 1,329 618 2,251 1,416
Contribution (1,491) (187) (2,141) (887)
Operating expense 2,461 2,743 5,432 5,759
Other expense - - - -
Litigation expense 55 - 135 24
Operating loss (4,007) (2,930) (7,708) (6,670)
Taxes - (27) - (27)
Derivative & Other 10 (576) (368) (648)
Income (loss) from continuing operations (3,997) (3,533) (8,076) (7,345)
Income (loss) from discontinued operations (33) 70 12 231
Net Income $(4,030) $(3,463) $(8,064) $(7,114)
         
Other Information:        
Loss per Share $(0.53) $(162.60) $(1.32) $(338.40)
Weighted average shares outstanding 7,481 21 6,102 21
Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
Read more: RGS Energy Reports Second Quarter 2017 Results

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ET | Source: RGS Energy

DENVER, Aug. 24, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, and Sonnen, Inc., a global leader in smart energy storage systems, are immediately offering U.S. manufactured battery storage options to its mainland residential solar customers.

“We believe battery storage provides great value for our residential solar customers,” said Chris Gorski, RGS Energy’s director of Special Projects. “We chose Sonnen because of the safety, stability and long lifecycle of their lithium-iron phosphate batteries, and the fact that they have more than 20,000 sonnenBatterie systems installed worldwide. Battery storage is at the forefront of the solar industry as customers are seeking solutions to minimize the impact of power outages and the high cost of time-of-use power rates charged by an increasing number of utilities.”  

A sonnenBatterie system provides a variety of services to solar homeowners, including back-up power during utility outages and a reduction in expensive peak energy draws from the power grid. In 2016 alone, there were over 3,800 power outages in the U.S. The addition of a battery storage system allows solar systems to continue to function independently of the power grid, enabling solar homes to provide their own power day and night during an outage to keep key home appliances running, such as lights, refrigeration, security systems and sump pumps.

“Energy storage is still in the early stages of adoption in the U.S., but smart systems, like the sonnenBatterie, are the key to creating a foundation for clean and reliable energy for all,” said Blake Richetta, SVP of sonnen. “RGS is an ideal partner for sonnen as we both value high quality standards, have a history of proven performance and view our capability to innovate as the best options for customers.”

RGS Energy is a Sonnen certified installer and expects to begin deploying sonnenBatterie systems this fall.

About Sonnen

Sonnen believes clean, affordable, and reliable energy for all is one of the greatest challenges of our time. With over 20,000 sonnenBatterie systems installed worldwide, sonnen is a proven global leader in intelligent energy management solutions that provide greater energy control for residential customers through increased solar self-consumption, reduced peak energy usage and reliable backup power during outages – contributing to a cleaner and more reliable energy future. sonnen has won several awards for its energy innovations and sonnenBatterie products, including the 2017 Zayed Future Energy Prize, Fast Company’s Most Innovative Companies for 2017, MIT’s Technology Review’s 50 Smartest Companies in 2016, Global Cleantech 100 for 2015-2017, Greentech Media’s 2016 Grid Edge Award for innovation, and Cleantech’s 2015 Company of the Year Award in both Israel and Europe. For more information, visit www.sonnen-batterie.com/en-us/start

About RGS Energy 

RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: demand for battery storage solutions, the realized value to customers of use of battery storage solutions, and customers’ ability to reduce peak energy usage as a result of the use of a battery storage solution.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy’s Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: RGS Energy and Sonnen Team Up to Offer Smart...

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, Aug. 09, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or "JA"), one of the world's largest manufacturers of high-performance solar power products, today announced that it will report its financial results for the second quarter ended June 30, 2017 before the U.S. market open on Tuesday, August 22, 2017.

JA Solar's management will host an earnings conference call on August 22, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

              Phone Number           Toll-Free Number        
  United States           +1 8456750437           +1 8665194004        
  Hong Kong           +852 30186771           +852 800906601        
  Mainland China           +86 8008190121
+86 4006208038
                   
  Other International           +65 67135090                    

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 66045523.

A replay of the conference call may be accessed by phone at the following numbers until August 30, 2017.  To access the replay, please reference the conference ID 66045523.

              Phone Number           Toll-Free Number        
  United States           +1 6462543697           +1 8554525696        
  Hong Kong           +852 30512780           +852 800963117        
  Mainland China           +86 8008700206
+86 4006322162
                   
  Other International           +61 281990299                    

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company’s website at http://www.jasolar.com.

About JA Solar Holdings Co., Ltd.

JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world's largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Hanoi, Vietnam.

For more information, please visit www.jasolar.com.

CONTACT:
The Blueshirt Group 
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JA Solar Holdings Co., Ltd.

Zhabei, CHINA

CONTACT:
The Blueshirt Group 
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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ET | Source: RGS Energy

DENVER, July 26, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small business commercial solar company since 1978, will hold a conference call on Wednesday, August 9, 2017 at 4:30 p.m. Eastern time to discuss results for the second quarter ended June 30, 2017. The financial results will be issued in a press release prior to the call.

RGS Energy management will host the presentation, followed by a question and answer period.

Date: Wednesday, August 9, 2017
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-877-545-1407
International dial-in number: 1-719-325-4929
Conference ID: 9865811
Webcast: http://public.viavid.com/index.php?id=125727

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through August 16, 2017.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9865811

About RGS Energy
RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar Company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Investor Relations Contact Ron Both Managing Partner, CMA Tel 1-949-432-7566

Denver, Colorado, UNITED STATES

  http://www.rgsenergy.com

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

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ET | Source: BioLargo, Inc.

Westminster, CA , Aug. 22, 2017 (GLOBE NEWSWIRE) -- BioLargo, Inc., (OTCQB: BLGO; www.biolargo.com), a sustainable science and technology company that delivers practical solutions for clean water, clean air and advanced wound care, announced in a blog post yesterday highlights from its 3rd annual technical symposium held at the Snow Valley Conference Center in Edmonton Alberta. The blog post, found here, included highlights regarding the successful tests conducted by a leading water engineering firm of BioLargo’s AOS system on industry-provided water, potential scalable designs of the AOS system to handle increased water flow in commercial settings, and a solar powered “AOS Mini” demonstrating the low power and flexibility of the AOS system in a design that could potentially provide clean water to extremely water-scarce or disaster-prone areas.

The company promises further updates and developments of its AOS and technical achievements in future blog posts.

About BioLargo, Inc.

BioLargo, Inc. is a sustainable science and technology company that makes life better by delivering award-winning products for clean water, clean air and advanced wound care. More information can be found about the company and its subsidiaries at www.BioLargo.com. Its subsidiary BioLargo Water, Inc. (www.BioLargoWater.com) showcases its emerging technology, the Advanced Oxidation System “AOS”, an award-winning product, having been awarded more than 35 research grants and counting, specifically designed to eliminate common, troublesome, and dangerous (toxic) contaminants in water in a fraction of the time and cost of current technologies. BioLargo's subsidiary Odor-No-More Inc., features sustainable odor elimination products including its CupriDyne Clean (www.CupriDyne.com) Industrial Odor Eliminator, a product currently serving the leading solid waste handling and wastewater treatment companies as well as any industry that must contend with malodors, VOC’s or similar air quality related problems. Its personal care products are finding adoption through white labeling or early market entry in the pet, equine, military supply and consumer markets, and include the Nature's Best Solution® and Deodorall® brands (www.OdorNoMore.com). BioLargo's subsidiary Clyra Medical Technologies, Inc. (www.ClyraMedical.com) focuses on advanced wound care management featuring effective and gentle solutions for chronic infected wounds and other uses to promote infection control. BioLargo also owns a 50% interest in the Isan System, a fully automated iodine dosing system being commercialized under a license to Clarion Water, Inc.

Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the risks and uncertainties included in BioLargo's current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo's Annual Report on Form 10-K.

Source: Uptick Newswire

Contact:
Company Contact
Dennis Calvert
President and CEO
BioLargo, Inc.
949-643-9540 x2
Read more: BioLargo’s 3rd Annual Technical Symposium...

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ET | Source: Torino Power Solutions Inc

VANCOUVER, British Columbia, July 25, 2017 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (Frankfurt:A143TE) (the “Company” or “Torino”), is pleased to report that it has entered into a business development partnership with Thirty Advisory. Thirty Advisory is a strategic advisory consulting firm working with some of the largest utilities in North America. Under the agreement, Torino and Thirty Advisory will provide collaborative, turnkey services focusing on the strategy development, installation and implementation of transmission and distribution system solutions, designed to address the challenges of integrating distributed energy resources (like wind and solar energy) into an aging electrical grid. Effective closed loop control of pervasively deployed IIoT sensors, providing real time condition monitoring of the electrical grid is mandatory for the electric utility sector, which is in a significant state of transition to a 21st century transmission and delivery system that is flexible, reliable, resilient, efficient and sustainable.

Torino’s real-time Power Line Monitoring system for electrical power transmission and distribution (T&D) grids is seen as a critical component for the digital transformation of the electrical grid. T&D infrastructure is in urgent need of expansion and upgrading due to increasing population, growing loads (due to renewable energy sources like wind and solar) and aging equipment.  Utilities globally are investing in new technology to improve grid performance and reduce cost for their customers.  Torino’s patented microwave cavity sensor technology delivers real time measurements that allow for closed loop Dynamic Line Rating leading to increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination. Torino PLM creates real-time situational awareness that will help prolong the life of powerline assets and help with the management of future distribution networks that are expected to host high concentrations of distributed energy resources which include distributed generation, renewable energy sources, local storage systems and flexible loads.

About Thirty Advisory

Thirty Advisory is a strategic advisory consulting firm providing IIoT projects in the Energy and Utilities, Automotive, Industrial, Communications, Healthcare, Financial, Consumer, Media and Entertainment sectors enabling clients with a competitive edge, allowing them to engage more effectively in the connected marketplace that is the Age of Everything. Please visit www.thirtyadvisory.com for more information.

Please visit www.torinopower.com for more information.

We seek Safe Harbor.  

 On behalf of the Board of Directors

“Rav Mlait”

CEO and Director

Torino Power Solutions Inc.

For further information, contact at This email address is being protected from spambots. You need JavaScript enabled to view it.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (1) adverse market conditions; (2) risks regarding protection of proprietary technology; (3) the ability of the Company to complete financings; (4) the ability of the Company to develop and market its future product; and (5) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the DTCR business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing “patent pending” technologies licensed by the Company will receive patent status by regulatory authorities.  The Company is not currently selling commercial DTCR systems. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

 

Phone: (604) 551-7831       
Fax: 604-676-2767

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torinopower.com

Torino Power Solutions Inc

Burnaby, British Columbia, CANADA

  http://www.torinopower.com/

Phone: (604) 551-7831       
Fax: 604-676-2767

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torinopower.com

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, Aug. 22, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced its unaudited financial results for its second quarter ended June 30, 2017.

Second Quarter 2017 Highlights

  • Total shipments were 2,389.2 megawatts (“MW”), consisting of 2,147.5 MW of modules and 167.2 MW of cells to external customers, and 74.5 MW of modules to the Company’s downstream projects.  External shipments were up 88.3% y/y and 68.3% sequentially
     
  • Shipments of modules were 2,147.5 MW, an increase of 89.3% y/y and 62.1% sequentially
     
  • Shipments of cells were 167.2 MW, an increase of 75.8% y/y and 233.1% sequentially
     
  • Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially
     
  • Gross margin was 12.9%, a decrease of 240 basis points y/y and an increase of 120 basis points sequentially
     
  • Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the second quarter of 2016, and RMB 80.0 million ($11.8 million) in the first quarter of 2017
     
  • Net income was RMB 134.6 million ($19.9 million), compared to RMB 164.1 million ($24.2 million) in the second quarter of 2016, and RMB 8.1 million ($1.2 million) in the first quarter of 2017
     
  • Earnings per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.87 or $0.42 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017
     
  • Cash and cash equivalents were RMB 3.2 billion ($477.0 million), an increase of RMB 947.6 million ($139.8 million) during the quarter
     
  • Non-GAAP earnings1 per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.04 or $0.30 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, "Second quarter results exceeded our expectations.  Robust shipments in China, primarily attributable to accelerated activity ahead of subsidy reductions, drove our year-over-year double-digit revenue growth in the quarter.  Additionally, better-than-expected average selling price and lower blended costs resulted in 120 basis-point sequential improvement in gross margin."

Mr. Jin continued, "We remain cautious on our business outlook as we enter the second half of 2017, given the slowdown in demand in our domestic market, coupled with the uncertainty around the Section 201 trade case in the U.S.  While anticipated changes in incentives is expected to slow the Chinese market in the second half of the year, we continue to believe our balanced global footprint and flexible business model will enable us to adjust to evolving market conditions.  Our team remains focused on prudently managing our working capital, strengthening our balance sheet and executing our business strategy to provide our customers with high-quality products.”

All shipment and financial figures refer to the quarter ended June 30, 2017, unless otherwise specified.  All “year over year” or “y/y” comparisons are against the quarter ended June 30, 2016.  All “sequential” comparisons are against the quarter ended March 31, 2017.

Total shipments were 2,389.2 MW, well above the guidance of 1,550 to 1,650 MW. This is mainly due to stronger than expected pull-in orders from the China market. External shipments of 2,314.7 MW increased 88.3% year over year and 68.3% sequentially.

External shipments breakdown by product (MW)

  2016Q2 2017Q1 2017Q2 QoQ% YoY%
Modules and module tolling 1,134.2 1,325.1 2,147.5 62.1 % 89.3 %
Cells and cell tolling 95.1 50.2 167.2 233.1 % 75.8 %
Total 1,229.3 1,375.3 2,314.7 68.3 % 88.3 %

External shipments breakdown by region (percentage)

  2016Q2 2017Q1 2017Q2 QoQ(pp) YoY(pp)
China 63.9 % 39.7 % 59.2 % 19.50 -4.70
APAC ex-China 12.0 % 44.2 % 24.9 % -19.30 12.90
Europe 3.7 % 5.5 % 5.1 % -0.40 1.40
North America 9.3 % 8.1 % 8.1 % 0 -1.20
South America 9.9 % 0.1 % 0.4 % 0.30 -9.50
Others 1.2 % 2.4 % 2.3 % -0.10 1.10

Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially.

Gross profit of RMB 770.8 million ($113.7 million) increased 22.7% y/y and 77.9% sequentially.  Gross margin was 12.9%, which compares to 15.3% in the year-ago quarter, and 11.7% in the first quarter of 2017.

Total operating expenses of RMB 515.7 million ($76.1 million) were 8.7% of revenue.  This compares to operating expenses of 10.7% of revenue in the year-ago quarter, and 9.6% of revenue in the first quarter of 2017.

Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the year-ago quarter, and RMB 80.0 million ($11.8 million) in the first quarter of 2017.  Operating margin was 4.3%, compared with 4.6% in the prior year period and 2.2% in the previous quarter.

Interest expense was RMB 82.6 million ($12.2 million), compared to RMB 68.8 million ($10.1 million) in the year-ago quarter, and RMB 83.3 million ($12.3 million) in the first quarter of 2017. 

The change in fair value of warrant derivatives was nil, compared with positive RMB 47.4 million ($7.0 million) in the year-ago quarter, and nil in the first quarter of 2017. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016.
Earnings per diluted ADS were RMB 2.87 or $0.42, compared to earnings per diluted ADS of RMB 2.87 or $0.42 in the year-ago quarter, and earnings per diluted ADS of RMB 0.17 or $0.03 in the first quarter of 2017.

Liquidity
As of June 30, 2017, the Company had cash and cash equivalents of RMB 3.2 billion ($477.0 million), and total working capital of RMB 857.2 million ($126.5 million).  Total short-term borrowings were RMB 3.3 billion ($491.7 million). Total long-term borrowings were RMB 2.8 billion ($419.4 million), of which RMB 792.1 million ($116.8 million) were due in one year.

Business Outlook
For the third quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,600 to 1,700 MW.  Nearly all will be external shipments.

For the full year 2017, the Company is raising its shipment outlook.  Total cell and module shipments are now expected to range between 6.5 and 7.0 GW, up from 6.0-6.5 GW in the prior guidance.  This includes 100-150 MW of module shipments to the Company's downstream projects, down from 200-250 MW in the previous guidance.  Revenues will not be recognized for the modules shipped to the Company's downstream projects as required by US GAAP.

Update on Yangzhou Facility Fire and Production Capacity
The Company provided an update regarding the July 13 fire at the Company’s cell production facility in Yangzhou, Jiangsu province. There were no injuries in the incident. The Company maintains insurance coverage for its production equipment and is in the process of filing insurance claims related to the incident. The cause of the fire remains under investigation.

The Company estimates a loss in cell production capacity of 500 MW per annum as a result of the accident. Therefore, the Company expects its year-end cell capacity to be 6.5 GW, instead of the previous guidance of 7.0 GW. The Company now expects year-end module capacity to be 7.0 GW, instead of the previous guidance of 6.0 GW. Year-end wafer capacity guidance remains unchanged at 3.0 GW. The Company expects to restore the lost cell capacity by the first quarter of 2018.

All information regarding the impact of the fire is subject to change based on further evaluation and investigation.

Investor Conference Call / Webcast Details
JA Solar's management will host an earnings conference call on August 22, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

  Phone Number Toll-Free Number
United States +1 8456750437 +1 8665194004
Hong Kong +852 30186771 +852 800906601
Mainland China +86 8008190121
+86 4006208038
 
Other International +65 67135090  

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 66045523.

A replay of the conference call may be accessed by phone at the following numbers until August 30, 2017.  To access the replay, please reference the conference ID 66045523.

  Phone Number Toll-Free Number
United States +1 6462543697 +1 8554525696
Hong Kong +852 30512780 +852 800963117
Mainland China +86 8008700206
+86 4006322162
 
Other International +61 281990299  

Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2017, which was RMB 6.7793 to $1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on June 30, 2017, or at any other date. The percentages stated in this press release are calculated based on Renminbi.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world’s largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.

For more information, please visit www.jasolar.com.

1 JA Solar adjusts net income attributable to the Company's ordinary shareholders to exclude changes in fair value of certain warrants granted to certain investors in a registered direct offering (the "Offering") closed on August 16, 2013.

JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations and Comprehensive Income  
(Unaudited)  
  For three months ended  
  Jun. 30, 2016 Mar. 31, 2017 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 RMB'000 USD'000  
           
Net revenues 4,113,592   3,692,405   5,953,211   878,145    
Cost of sales (3,485,300 ) (3,259,070 ) (5,182,372 ) (764,441 )  
Gross profit 628,292   433,335   770,839   113,704    
Selling, general and administrative expenses (396,294 ) (312,858 ) (480,065 ) (70,813 )  
Research and development expenses (44,043 ) (40,460 ) (35,667 ) (5,261 )  
Total operating expenses (440,337 ) (353,318 ) (515,732 ) (76,074 )  
Income from operations 187,955   80,017   255,107   37,630    
Interest expense (68,804 ) (83,274 ) (82,617 ) (12,187 )  
Change in fair value of warrant derivatives 47,417     -      -      -     
Other income, net 30,878   22,516   13,654   2,014    
Income before income taxes 197,446   19,259   186,144   27,457    
Income tax expense (33,357 ) (11,136 ) (51,536 ) (7,602 )  
Net income 164,089   8,123   134,608   19,855    
Less: income attributable to noncontrolling interest 388     -      -      -     
Net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
           
Net income per share attributable to ordinary shareholders:          
  Basic 0.57   0.03   0.57   0.08    
  Diluted 0.57   0.03   0.57   0.08    
           
Weighted average number of shares outstanding:          
  Basic  234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
Comprehensive income          
Net income 164,089   8,123   134,608   19,855    
  Foreign currency translation adjustments, net of tax (22,068 ) 1,082   (786 ) (116 )  
Other comprehensive loss (22,068 ) 1,082   (786 ) (116 )  
Comprehensive income 142,021   9,205   133,822   19,739    
Income attributable to noncontrolling interest 388     -      -      -     
Comprehensive income attributable to JA Solar Holdings 141,633   9,205   133,822   19,739    
           
NON-GAAP RECONCILIATION          
           
GAAP net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
Change in fair value of warrant derivatives (47,417 )   -      -      -     
Non-GAAP net income attributable to JA Solar Holdings 116,284   8,123   134,608   19,855    
           
Non-GAAP net income per share attributable to ordinary shareholders:          
  Basic 0.41   0.03   0.57   0.08    
  Diluted 0.41   0.03   0.57   0.08    
           
Non-GAAP weighted average number of shares outstanding:          
  Basic 234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations  
(Unaudited)  
  For six months ended  
  Jun. 30, 2016 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 USD'000  
         
Net revenues 7,583,306   9,645,616   1,422,804    
Cost of sales (6,379,652 ) (8,441,442 ) (1,245,179 )  
Gross profit 1,203,654   1,204,174   177,625    
Selling, general and administrative expenses (708,769 ) (792,923 ) (116,962 )  
Research and development expenses (83,642 ) (76,127 ) (11,229 )  
Total operating expenses (792,411 ) (869,050 ) (128,191 )  
Income from operations 411,243   335,124   49,434    
Interest expense (136,077 ) (165,891 ) (24,470 )  
Change in fair value of warrant derivatives 70,864     -      -     
Other income, net 47,159   36,170   5,335    
Income before income taxes 393,189   205,403   30,299    
Income tax expenses (71,126 ) (62,672 ) (9,245 )  
Net income 322,063   142,731   21,054    
Less: income/(loss) attributable to noncontrolling interest 1,705     -      -     
Net income attributable to JA Solar Holdings 320,358   142,731   21,054    
         
Net income per share attributable to ordinary shareholders:        
  Basic 1.12   0.61   0.09    
  Diluted 1.12   0.61   0.09    
         
Weighted average number of shares outstanding:        
  Basic   234,290,842     234,301,342     234,301,342    
  Diluted   234,482,552     234,317,372     234,317,372    
         
Comprehensive income        
Net income 322,063   142,731   21,054    
  Foreign currency translation adjustments, net of tax (22,208 ) 296   43    
Other comprehensive loss (22,208 ) 296   43    
Comprehensive income 299,855   143,027   21,097    
Income/(loss) attributable to noncontrolling interest 1,705     -      -     
Comprehensive income attributable to JA Solar Holdings 298,150   143,027   21,097    
         
NON-GAAP RECONCILIATION        
         
GAAP net income attributable to JA Solar Holdings 320,358   142,731   21,054    
Change in fair value of warrant derivatives (70,864 )   -      -     
Non-GAAP net income attributable to JA Solar Holdings 249,494   142,731   21,054    
         
Non-GAAP net income per share attributable to ordinary shareholders:        
  Basic 0.87   0.61   0.09    
  Diluted 0.87   0.61   0.09    
         
Non-GAAP weighted average number of shares outstanding:        
  Basic 234,290,842   234,301,342   234,301,342    
  Diluted 234,482,552   234,317,372   234,317,372    
         
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Balance Sheets  
(Unaudited)  
         
  Dec. 31, Jun. 30,  
  2016 2017 2017  
  RMB'000 RMB'000 USD'000  
     
ASSETS        
Current assets:         
Cash and cash equivalents   2,569,402   3,233,663   476,991  
Restricted cash   836,761   1,137,672   167,816  
Accounts receivable    2,753,678   3,063,867   451,945  
Notes receivable    563,144   473,661   69,869  
Inventories   2,460,488   2,431,682   358,692  
Advances to suppliers   282,369   267,858   39,511  
Other current assets   799,314   552,080   81,436  
Total current assets   10,265,156   11,160,483   1,646,260  
Property and equipment, net   5,219,501   5,595,275   825,347  
Project asset   2,338,648   2,671,375   394,049  
Advances to suppliers   97,429   56,538   8,340  
Prepaid land use rights   524,208   531,723   78,433  
Long-term investment   69,022   71,717   10,579  
Other long term assets   517,292   700,988   103,401  
Total assets   19,031,256   20,788,099   3,066,409  
LIABILITIES AND SHAREHOLDERS’ EQUITY        
Current liabilities:        
Short-term borrowings    2,912,866   3,333,565   491,727  
Accounts payable    2,635,525   3,406,588   502,499  
Advances from customers   610,718   1,072,069   158,139  
Current portion of long term borrowings   525,256   792,123   116,844  
Accrued and other liabilities    1,966,475   1,698,903   250,601  
Total current liabilities   8,650,840   10,303,248   1,519,810  
Long-term borrowings    2,701,438   2,050,914   302,526  
Other long term liabilities   1,217,648   1,829,175   269,818  
Total liabilities   12,569,926   14,183,337   2,092,154  
Total JA Solar Holdings shareholders' equity   6,461,130   6,604,562   974,225  
Noncontrolling interest   200   200   30  
Total shareholders' equity   6,461,330   6,604,762   974,255  
Total liabilities and shareholders’ equity   19,031,256   20,788,099   3,066,409  
         
Contact:

The Blueshirt Group

Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Read more: JA Solar Announces Second Quarter 2017 Results

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ET | Source: Consolidated Edison Company Of NY

photo-release

Con Edison Solar
Con Edison Solar

Con Edison workers carrying a solar panel on a company roof in Queens

Consolidated Edison Company Of NY

NEW YORK, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Con Edison will begin providing renewable energy to low-income customers in 2018 following today’s approval of a plan to place solar panels on company roofs and grounds.

Con Edison expects to begin installing the first panels on properties in Brooklyn, Queens and Westchester County. In this initial phase, Con Edison expects to install enough panels to generate 3 megawatts of power to serve 800 to 1,600 customers, under a pilot program the company proposed last year.

“We thank the state Public Service Commission for its careful review and approval of the first phase of our Shared Solar Pilot Program, which will make renewable energy available to a group of customers who have been largely shut out of the solar market,” said Matthew Ketschke, Con Edison’s vice president, Distributed Resource Integration. “More customers having access to renewable energy will mean a cleaner environment here in New York City and Westchester County.”

Developers will bid competitively for contracts to install arrays on company properties. The company also plans to begin forming partnerships with community organizations that can help get the word out to customers who may be able to benefit from the program.

There would be no cost to low-income participants, each of whom could realize savings of at least $60 per year.

The company said in its filing that it can build up to 11 megawatts of solar generation over five years and could serve 3,000 to 6,000 residential customers who are in the company’s low-income bill assistance program.

The program would make solar power available to customers who receive bills directly from Con Edison, and who are enrolled in the company’s low-income bill assistance program. They also would be encouraged to participate in an energy efficiency program, which can result in additional customer savings.

The project is consistent with the state’s “Reforming the Energy Vision” (REV) initiative, which aims to give customers more access to distributed generation and reduce carbon emissions.

Several factors have made it difficult for low-income customers to access solar energy. First, many of them rent their homes or live in multi-family buildings where they do not have control of their roofs. The upfront costs of installing solar panels and ability to borrow money can also be barriers. Of more than 10,000 Con Edison customers who have solar panels, only about 200 are in the company’s low income program.

Con Edison estimates the cost of the first phase of the program to be about $10 million.

Con Edison already has solar panels on its headquarters in Manhattan. Those panels produce 40 kilowatts of power to the building.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $48 billion in assets. The utility provides electric, gas and steam service to customers in New York City and Westchester County, N.Y. For additional financial, operations and customer service information, visit www.conEd.com, for energy efficiency rebates and incentives www.coned.com/energyefficiency, and on Twitter and Facebook.

CONNECT WITH US:

Facebook: https://www.facebook.com/ConEdison
Twitter: https://twitter.com/conedison
YouTube: http://www.youtube.com/conedisonny
Flickr: http://www.flickr.com/photos/conedison/sets/721576

Contact:     
Media Relations
212-460-4111

Consolidated Edison Company Of NY

New York, New York, UNITED STATES

Contact:     
Media Relations
212-460-4111

Con Edison Solar

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Con Edison workers carrying a solar panel on a company roof in Queens

Consolidated Edison Company Of NY

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ET | Source: Scatec Solar

Q2 2017 Presentation.pdf

Q2 2017 Report.pdf

Oslo, July 21, 2017: Scatec Solar's second quarter consolidated revenues reached NOK 279 million, up from 213 million in the same period last year. Consolidated EBITDA reached NOK 217 million, up from NOK 153 million last year. The year on year increase in revenues and EBITDA is mainly explained by better solar irradiation, additional revenues from the new plants in Jordan and a strengthening of ZAR/NOK of 17%.

Scatec Solar's proportionate share of revenues reached NOK 165 million, down from 437 million in the same period last year. The proportionate EBITDA reached NOK 100 million in line with the same period last year. Cash flow to equity across all business activities reached NOK 20 million in the second quarter, compared to NOK 31 million in the same period last year.

Power production reached 147 GWh in the second quarter, up 24% from same quarter last year, excluding divestments, and down 6% from previous quarter due to seasonally lower production in South Africa.

"We have made significant progress on the 1,143 MW project backlog over the last few months and several projects are approaching financial close. With these projects, we are set to strengthen our position as a leading emerging market focused IPP. With technology innovation and cost reductions in the industry we are exploring additional partnerships and new business models that will allow us to add to our growth opportunities ", says Scatec Solar's CEO, Raymond Carlsen.

For more details, please see attached the second quarter report and presentation.

A presentation of the results will be held today at 08.00 at Høyres Hus, Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can also be followed through a live webcast from our website www.scatecsolar.com/investor.

For further information, please contact:

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

Mr. Mikkel Tørud, CFO,                  tel: +47 976 99 144           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 600 MW.

The company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan. With an established global presence, the company is growing briskly with a project backlog and pipeline of 1.8 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'.

To learn more, visit www.scatecsolar.com

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/d1b33de7-47be-4840-adc5-8335dc3dbead

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Read more: Second quarter results - ready to harvest...

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