Scatec sells 8.5 MW solar power plant in Rwanda, in line with strategy
20 December 2023 - 5:48AM
Scatec sells 8.5 MW solar power plant in Rwanda, in line with
strategy
19 December 2023: Scatec ASA, a leading renewable energy company
in emerging economies, has today signed an agreement with Fortis
Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd to sell
its 54% equity share in the 8.5 MW solar power plant in Rwanda for
USD 1.38 million (NOK 14.2 million), in line with the company’s
strategy.
“This transaction is aligned with our strategy to consolidate
our operating portfolio through divestments of assets in
non-prioritised markets,” says Scatec CEO Terje Pilskog.The ASYV
power plant in Rwanda commenced operations in 2014. The power was
sold under a 25-year Power Purchase Agreement with the state-owned
utility EWSA, guaranteed by the Government of Rwanda. The
transaction is subject to the customary regulatory consents and is
expected to close in 2024. Scatec is also exiting from the
operations & maintenance and asset management agreements as
part of the sale.
For further information, please contact: For
analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38
686, andreas.austrell@scatec.com For media: Meera
Bhatia, SVP Communications & Government Affairs,
phone: +47 468 44 959, meera.bhatia@scatec.com About
Scatec Scatec is a leading renewable energy
solutions provider, accelerating access to reliable and affordable
clean energy emerging markets. As a long-term player, we develop,
build, own, and operate renewable energy plants, with 4.3 GW in
operation and under construction across four continents today. We
are committed to grow our renewable energy capacity, delivered by
our passionate employees and partners who are driven by a common
vision of ‘Improving our Future’. Scatec is headquartered in Oslo,
Norway and listed on the Oslo Stock Exchange under the ticker
symbol ‘SCATC’. To learn more,
visit www.scatec.com or connect with us
on LinkedIn.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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