Scatec Secures Financing for 60 MW Solar in Botswana

• Scatec ASA hits financial close on groundbreaking 60-MW Botswana solar park, providing power to 20,000 homes and paving the way for a greener future.

Scatec ASA, a Norwegian renewable power producer, has achieved financial close on the initial phase of a 120-MW solar park in Botswana. The 60-MW project will generate electricity for around 20,000 homes annually and is contracted for 25 years with the Botswana Power Corporation (BPC). The project will be funded by BWP 936 million of non-recourse project debt and equity. The company will handle all engineering, procurement, construction, operations and maintenance activities.

What Is Scatec ASA's 120-MW Solar Project in Botswana?

• The 120-MW solar park is located in the country's Central Kalahari region.
• The solar project is expected to be fully operational by the end of 2021.
• Scatec ASA will be responsible for the majority of the investment, with a 25-year power purchase agreement with Botswana Power Corporation (BPC).
• The project is expected to reduce the cost of electricity in Botswana by up to USD 0.08/kWh and create 500 jobs during the construction period.
• The solar park will reduce CO2 emissions by 200,000 tonnes annually.
• The project was approved by the Botswana Investment and Trade Center (BITC).