Scatec Signs Fifteen-Year PPA For 130-MW Solar In Colombia Project

• Scatec inks a 15-year power purchase agreement for a 130-MW PV plant in Colombia, targeting financing and build in 2025.

Norway’s Scatec has signed a 15-year PPA for a 130-MW solar project in Colombia, advancing one of the country’s larger utility-scale PV builds. The company plans majority ownership, with Norfund as a minority equity partner, and is targeting non-recourse financing with roughly 65% leverage. Financial close and construction start are expected in 2025.

Colombia’s solar pipeline has gathered pace as policymakers diversify a system long dominated by hydro and gas. Contracted offtake provides revenue stability in a market with weather-sensitive hydro output and evolving spot prices. For lenders, the combination of experienced sponsors, long-dated contracts and proven technology ticks key bankability boxes.

On the ground, engineering will focus on high-irradiation layouts, robust foundations for seasonal rains, and plant controls tuned for local grid codes—fault ride-through, reactive power capability, and remote dispatch. While storage isn’t part of the base case, co-location remains an option to shift energy into evening peaks and provide fast-response services as the system’s renewable share grows.

If Scatec hits its financing and construction milestones, the plant will add dependable clean energy and broaden Colombia’s regional footprint for utility-scale PV, complementing distributed projects now appearing on commercial rooftops.