- Scatec is refinancing three of its solar PV plants in South Africa.
- The plants have a combined capacity of 190MW.
Scatec, Norwegian Independent Power Producer (IPP), has announced the refinancing of three of its operating solar PV plants in South Africa. Kalkbult, Dreunberg and Linde are the solar plants refinanced. Scatec’s share of the refinancing proceeds, based on its 45% stake in these plants, equates to a 540 million SA rand ($36 million).
According to the IPP, the refinancing will also benefit the South African authorities through a 50:50 profit split between the power plants’ shareholders and the authorities. “The refinancing of our South African power plants demonstrates the potential for financing and value creation in our operating portfolio when the local financial markets mature,” says Mikkel Tørud, Scatec’s CFO.