Scatec Solar raises the stakes in South African PV – pv magazine International

Norwegian developer Scatec has upped its holding in three operational PV projects in South Africa. Each of the plants is operating under a 20-year PPA with utility Eskom. Scatec’s investments in the country are secured by guarantees from the World Bank Group.

Scatec Solar says a deal to raise its holding in three South African PV projects has been closed. The projects, which have a total capacity of 190 MW, are already in operation under power purchase agreements with utility Eskom.

The deal increases Scatec’s stake in the projects from 39% to 45%, by buying shares from Norwegian investment company Norfund and its partner, pension fund KLP, also based in Norway.

With the transaction finalized, Scatec and asset management company STANLIB Private Equity…

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