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Scatec Solar Confirms 258 MW South African Solar Deal (Int'l)
Scatec Solar
Date: 2018-04-09
Oslo, Norway-headquartered Scatec Solar ASA (SSO) and partners report they expect to close financing and begin construction of three South African solar projects totaling 258 MW at an approximate cost of ZAR 4.76 billion (1 ZAR = $0.083). A consortium of commercial banks and DFIs with Standard Bank in the lead are providing non-recourse project financing for 77 pct of the total project cost.

Scatec Solar will build, own, operate and maintain the solar power plants with a 42 pct shareholding. KLP Norfund Investments will hold 18 pct, the surrounding Community of Upington 5 pct and a South African investor will hold the remaining 35 pct of the equity.

Construction is expected to get underway in Q3 third of 2018 with grid connection towards the end of 2019. The plants are,projected to generate 650 GWh and avoid about 550,000 tpy of CO2 emissions. (Source: Scatac Solar, PR, 5 April, 2018) Contact: Scatac Solar, Raymond Carlsen, CEO, +47 454 11 280,

More Low-Carbon Energy News Scatec Solar ,  Solar,  South Africa Solar,  

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