Scatec Solar’s 258 MW Upington project part of the African Renewables Programme of the Year award
Oslo, 6 February 2019: The South African Ministry of Energy has been awarded the African Renewables Programmes of the Year for Round four of South Africa’s Renewable Energy Independent Power Producer Programme (REIPPP 4). Scatec Solar’s Upington project is one of the projects included in the programme.
Scatec Solar is represented by SVP Project Finance, Claus-Henning Schmidt at the prestigious Project Finance International (PFI) Awards 2018 in London today.
Read more about the event here: http://www.pfiawards.com
About the Upington project
In April 2015, Scatec Solar was awarded preferred bidder status for the three projects in Upington of 258 MW in the fourth bidding round under the REIPPP in South Africa. Scatec Solar will build, own and operate the solar power plants with a 42% shareholding. Norfund holds 18%, the surrounding Community of Upington 5% and H1 Holdings hold the remaining 35% of the equity.
Financial close for the projects was reached in April 2018. A consortium of commercial banks and Development Finance Institutions with Standard Bank in the lead are providing non-recourse project finance to the project. Construction started in third quarter 2018 with expected grid connection towards the end of 2019.
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an 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'. To learn more, visit www.scatecsolar.com.