SCATEC ASA

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Scatec Awarded Solar Projects Totaling 273 MW in the REIPPP Round 5 Government Tender in South Africa

10/28/2021 | 02:57pm
Scatec has been awarded Preferred Bidder status on three solar projects totaling 273 MW, by the Department of Mineral Resources and Energy in South Africa under the Renewable Energy IPP Procurement Programme (REIPPP). Under the programme Scatec will sell power from the solar plants under a 20-year Power Purchase Agreement. Scatec will own 51% of the equity in the projects with H1 Holdings, local Black Economic Empowerment partner owning 46,5% and a Community Trust holding 2.5%. Scatec will be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plants. Financial close is expected in the first half of 2022 with grid connection and commercial operation by the end of 2023.
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