Scatec starts commercial operation of solar power plants in Pakistan
31 January 2024 - 10:42PM
Scatec starts commercial operation of solar power plants in
Pakistan
Oslo, 31 January 2024: Scatec ASA, a
leader in renewable energy solutions, has finalised construction
and started producing clean energy from its 150 MW solar power
plants in Sukkur, Pakistan.
The power plants will generate approximately 300 GWh annually
under 25-year USD-indexed power purchase agreements with Central
Power Purchasing Agency of Pakistan (CPPA).
"I am proud to announce commercial operations of our solar
project in Sukkur. The power plants will generate much needed
renewable energy to the people of Pakistan, covering the
electricity need of about 150,000 households while contributing to
sustainable local value creation. I would like to thank the Scatec
team and our partners for this extraordinary accomplishment,”
says Terje Pilskog, CEO of Scatec.
Scatec holds an economic interest of 75 percent of the projects
and will provide Operation & Maintenance as well as Asset
Management services to the power plants. The remaining ownership
share is held by Nizam Energy, Scatec’s local partner. The
non-recourse project debt is provided by FMO, the Dutch development
bank, Faysal Bank, Bank of Punjab, Bank Islami, and Pak Kuwait
Investment Company.
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 4.2 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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