News flash
- Release by Scatec has signed new lease agreements for solar and battery energy systems in Liberia and Sierra Leone, totalling 64 MW of solar power and 10 MWh of battery storage.
These projects will provide dependable, clean electricity to communities and businesses, supporting national development goals and expanding access in regions where grid connectivity remains low. With flexible “lease-to-own” solutions, we’re helping utilities scale renewable energy quickly and affordably.
“These agreements represent a major step forward in our mission to accelerate the green energy transition in Sub-Saharan Africa by facilitating access to reliable, clean and affordable energy derived from local renewable resources,” says Hans Olav Kvalvaag, CEO of Release.
Release receives support from the World Bank’s IFC through a USD 100 million loan and a USD 65 million guarantee facility, established in 2023, securing payment obligations from Release’s clients. This partnership enables Release to offer affordable, clean power to African utilities with reduced financial risk, simplifying renewable energy adoption.
In Liberia, Release has entered into a 15-year lease agreement with the state-owned Liberia Electricity Corporation (LEC) for the development of a 24 MW solar plant combined with a 10 MWh battery energy storage system (BESS) in Duazon, near Monrovia. Release also secured a 40 MW solar project in Sierra Leone through a lease agreement with the national utility EGTC and the Ministry of Energy.
These two projects will be the first projects where Release will use its newly introduced solar panel mounting structure designed by its engineering team in South Africa, representing a milestone for the company and marking a start to a new way of delivering its projects.
Release is owned by Scatec (68%) and Climate Fund Managers (CFM) (32%) via its EU-supported Climate Investor One Fund, a USD 1 billion blended finance facility focused on renewable energy infrastructure in emerging markets.
Author: Bryan Groenendaal
