Scatec secures $27 million financing for 142MW solar project in Brazil. The company will serve as Engineering, Procurement and Construction (EPC) manager under a limited-scope contract, while also providing Operations and Maintenance (O&M) and asset management. In 2024, Scatec signed a ten-year Power Purchase Agreement (PPA) with Statkraft's local unit covering 75% of the plant's expected output. The remaining electricity will be sold through short-, medium-, and long-term PPAs. The project is scheduled to commence commercial operation by the end of 2025.

At the time of announcement, 63% of the $94 million project cost was financed through non-recourse debt, with the remainder covered by Scatec's equity. This project will increase Scatec's total operational capacity in Brazil to 835MW. Additionally, Scatec recently raised $479 million for a 1.1GW/200MWh solar plus storage project in Egypt. Funding was secured from the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project cost reaches $590 million, with approximately 80% already secured through financing support.

Founded in 2007, Scatec's global portfolio includes 6.2GW of operational and under-construction projects. Concurrently, the company is developing an 846MW solar cluster in South Africa, having been awarded through the seventh round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). Valued at ZAR 13.5 billion ($73.5 million), this cluster comprises three sites, with 90% financed through debt. Financial close is expected to be achieved in 2026.
url:https://www.pv-tech.org/scatec-secures-us27-million-for-142mw-pv-project-in-brazil/