Scatec wins recommended prospective buyer condition on 273 MW of solar in S Africa
- Scatec ASA (OSL: SCATC) revealed it has won preferred bidder status on 273 MW of solar projects in the fifth round of South Africa's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
The Norwegian renewable power producer has succeeded with 3 projects, it claimed, without naming them.
The Oslo-based business will certainly authorize 20-year power purchase agreements (PPAs) for the result of the plants and also will certainly own a 51% risk in each of them. The remainder of the possession will be held by local Black Economic Empowerment companion H1 Holdings as well as a community count on.
Along with having bulk risks, Scatec will certainly offer engineering, procurement as well as building and construction (EPC), procedure and upkeep (O&M) and possession administration services to these solar parks. It expects monetary near be achieved in the first fifty percent of following year as well as to complete the projects by the end of 2023.
In conclusion, South Africa's Department of Mineral Resources as well as Energy named 25 favored prospective buyers in this latest tender. Mainstream Renewable Power dominated the round with 12 successful projects of which a share will go to H1 Holdings as well.