We're here to present the second quarter results Q2. I'll take the first part. Then Mikkel will do the numbers. I'll sum up and provide some input to the future. Last quarter has been, I would say, almost as usual, extremely busy for us. We're also happy to share with you that in all business segments we are hitting previous records by the numbers we're presenting. The project backlog and pipeline is exceeding 5 gigawatts. I'll get a bit back to that with more input on the backlog and pipeline. The power production reached 198 gigawatt hours. We produced an EBITDA of NOK 221 million. Development and construction revenues of NOK 1.339 billion, with an EBITDA of NOK 165 million. If you compare the power production to last year, that's up 83%, while we have increase in the D&C result as well with an increase of 18%.
We have added 326 megawatts of new capacity into operation. We have started construction on new projects of 247 megawatts. In terms of the market traction, 170 megawatts is added to backlog. We have added almost 700 megawatts to the pipeline. As I said initially, if you sum up the backlog and the pipeline, we are around 5 gigawatts. We're also just about to touch 1,000 megawatts or 1 gigawatt in operation. You can see some of the plans in operation here. Since the beginning of the year, where we produced 2,000 megawatt hours per day, we're up to 5,000 megawatt hours per day as I speak. I checked this morning, we touched 5,000 megawatts. That's up 2 and a half times just in 6 months.
That just gives you the feeling you should have that we are on a very steep growth trajectory. A bit more than a year ago, we said that we see an interesting opportunity in Ukraine. We have not been disappointed. We have been working extremely hard to develop projects in Ukraine. There is a feed-in tariff in Ukraine. It's fairly high, around EUR 0.15 per kilowatt hour. That will be reduced at the end of the year, will go down by 25%. For us, building quickly and connecting these plants as quickly as we can will benefit us all. We have, during the past year, built up an organization from nothing to about 50 people. We're running 5 projects in parallel. If you take a look at the partners that you see we are cooperating with in Progressovka, we are working with PowerChina.
On Chigirin, we have European Bank for Reconstruction and Development, Nefco, and Swedfund. In Boguslav, FMO, GIEK, Green for Growth Fund, Rengy, EBRD again, Black Sea Trade and Development Bank. Finally, Kamianka, EBRD and FMO. For those of you who have a bit more insight, you know that these are extremely solid partners. They're quite a lot, but I think it just underlines how we are building a business. We are building our business based on partnerships. We are almost 1 gigawatt under construction on 4 continents as well. If you add the 2, once we have finished these projects, we are in operation with plants around 2,000 megawatts. That is substantial. The 5,000 megawatt hours per day is going to probably double and more than that when we finish these projects.
I think it's time to leave the floor to you, Mikkel, to go through the numbers.
We are very pleased to report another quarter with great results, solid financial results. If you look back at the last 12 months, revenues reached NOK 6.1 billion on a proportionate basis across our business segments. EBITDA, close to NOK 1.3 billion, and free cash flow back to Scatec Solar's equity at NOK 700 million. We continue to grow, and we have established a very stable development and construction business. It's delivering about half of the current reported EBITDA, both revenues and margins remain fairly stable and within the guidance that we have provided earlier. We continue to grid connect plants, and we will do so also in the quarters to come. Through the long-term power purchase agreements, we secure cash flows for 20, 25 years.
If you look at the current portfolio in operation, the remaining tenor of the PPAs are 19 years at the moment. As we connect new plants, that average will actually increase in the year to come. When it comes to operations, we obviously continue to focus on that, making sure we have stable operations, that we deal with any upcoming issues and maximize production. And we have been ramping up quite a lot of new capacity without any major issues so far. Now looking at the second quarter, total proportionate revenues reached NOK 1.6 billion and EBITDA NOK 388 million. It's a growth from last year, close to 50% year-on-year. It's both related to construction activity, but also mainly now connection of new power plants, more power production. If I then go briefly through the segments, power production revenues reached NOK 272 million in the quarter, EBITDA NOK 221 million.
Production ended at 198 gigawatt hours, compared to 133 gigawatts hours in the previous quarter and 68 gigawatt hours in the same period last year. It's a significant growth. If you look at the last 12 months, revenues reached NOK 816 million and EBITDA NOK 655 million. When it comes to the operation and maintenance segment, we report revenues of NOK 29 million and EBITDA of NOK 14 million. There was an underlying growth in revenues in the EBITDA in this segment. In the same quarter last year, we had a one-off, a catch-up of the revenues in Jordan of about NOK 8 million. Adjusted for that, we saw an increase also in the revenues and EBITDA, year-on-year. In the development and construction segment, NOK 1.3 billion of revenues, EBITDA of NOK 165 million.
We have a project ongoing now, as you saw in Malaysia, Mozambique, Egypt, South Africa, Ukraine, and Argentina. Accumulated progress across those projects were about 46%. We've added several projects to the backlog and pipeline, as Raymond also mentioned. When it comes to the financial position, total consolidated assets stood at NOK 17.5 billion, up by now NOK 2.6 billion since the beginning of this year. Obviously driven by our CapEx investments across our asset portfolio. Consolidated cash ended at NOK 2.4 billion, and free cash at the group level, NOK 560 million. We maintain a revolving credit facility of NOK 775 million that is undrawn. The group level book equity remained unchanged really at NOK 3.3 billion, and the same with the equity to capitalization ratio at 82%. Look at the movements of cash, free cash at the group level through the quarter.
We received NOK 29 million of dividends from our operating plans. We generated NOK 130 million of cash flow from development and construction, and we invested NOK 264 million of equity in new projects, mainly Ukraine, in this quarter. We paid NOK 108 million to our corporate shareholders in the quarter, and there were no major changes in the working capital in the construction projects. The cash balance ended up at NOK 560 million. When it comes to short-term guidance, we reiterate the operation and maintenance revenues of NOK 110 million-NOK 120 million for the year with an EBITDA margin around 30%. If you look at the development and construction value, the contract value of current portfolio, it's about NOK 5.3 billion, of which NOK 2.9 billion remains to be recognized as revenue. That will be mainly done in the second part of this year, early next year.
Lastly, we see growth in power production volumes also into the second half of this year. If you look at the guidance here, we expect power production to grow with about 35% from the second quarter into the third quarter based on the plans that are currently in operation. Okay. Raymond.
Thank you, Mikkel. If we just spend a couple of minutes on the market. The market continues to be very strong, and that has manifested itself in the increase in the pipeline and backlog to more than 5 gigawatts. Latin America, a slight increase of 50 MW. Africa, we're still seeing a strong growth in opportunities, 174 MW added to the pipeline. In Europe, more or less stable, but keep in mind that we have added, or we have actually moved quite a lot of the pipeline into backlog, and some of that was in the backlog into construction. The biggest growth right now that we see is in Southeast Asia, with almost half a gigawatt of opportunities added during the last month. There's one particular country that is growing very fast, and that is Vietnam. I'm sure that a lot of you have been to Vietnam.
It's a long country, a bit like Norway, very long. They have a few more people. They're approaching 100 million, and the economy is growing like crazy. They are growing right now between 8% and 9%. Of course, any country that grows is in desperate need to add electricity. Normally, the growth in the electricity market would be higher than the growth in the GDP. We see that the country with an installed capacity of 50 gigawatts will increase, and this was confirmed when I was there a couple of weeks back, from 50 gigawatt installed capacity to 100. That's a lot. That's almost 10% increase every year. To let you know how much that is, that is the same installed capacity as Thailand. That is their need.
Also their energy plan was more or less based on coal, which sort of have fallen a bit out of favor, but if you have no other choice, of course, you look at that. I noticed when I met with the authorities there that they were extremely interested in renewables. They've had a feed-in tariff in Vietnam, a reasonable and good feed-in tariff. They're revising that now. We think it's very interesting, and some of you might remember that Norway had the Prime Minister of Vietnam visiting Oslo last May, and we signed a development agreement with a partner of ours of almost 500 megawatts. That had a very positive effect on our position in Vietnam. In fact, there were 100 articles about Scatec Solar in Vietnam press after that visit. We had a lot of developers that contacted us during the month of June.
Some of them we have talked to for a long time. We signed up with some new agreements. Right now, the backlog stands at 108 megawatts, the pipeline at 750, with opportunities that could materialize above that over the next couple of months. A big portion of the 750 megawatts is floating solar. Vietnam is a big country with a lot of people, so there is limited amount of space available. We have seen very focused interest around floating solar. Also in the projects that we are working on now in the first 485, there is floating solar. If you look at it from Scatec Solar's point of view, this is the new big market for us, bigger than South Africa, bigger than Egypt, and bigger than Ukraine.
That means that if the feed-in tariff comes in at the levels we believe, if the planning commission in Hanoi gives a go-ahead to the next phase of the renewable projects, we will immediately start building up an organization that is going to handle this project, both during the development phase and during the operational phase. For us, very optimistic, and you see that TV is only interested in Scatec Solar in Vietnam, we were actually interviewed on two TV channels two weeks ago. The final slide. We are further enhancing our emerging market footprint. That means that we are strengthening our market position within going deeper into certain markets. We're also spreading out into new countries within the developing world.
This is actually driven by lower cost technology improvements, and cost reductions in general, so that it makes sense independent on technology to actually go to solar because it's the cheapest way of producing electricity. It's not a very difficult subsidized governmental decision that you have to deal with there. This makes sense seen from everybody's point of view. For governments, it's important to create a framework that can actually support the acceleration of deployment of renewable energy. I've used this statement before, a well-proven business model with a present execution capacity of 800-1,200 MW. Well, this is only limited to construction. Our development team is actually handling 5,000 MW under development. Our O&M team and asset management team is handling 1,000 MW. They have no problem in increasing that to 2,000 MW. Of course, we have a 3,500 MW goal by end of 2021.
This is actually our execution capacity. That is flexible. Should we outperform ourselves, of course, we will add capacity to our organization within Pål Helsing's solution organization. We have decided to invite you all into our Capital Markets Update on the 18th of September. The theme of that day is going to be expanding our platform for increased growth. Thank you very much. I'm sure there's a lot of questions. It's summertime. Well, again, thank you very much, and we'll see you sometime in October. September, sorry. First in September, and then the next quarter report in October.