- Scatec ASA has signed power purchase and implementation agreements (Legal Close) for the three solar Grootfontein projects in the Western Cape Province of South Africa, under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) with the South African government.
- Commercial and financial close is expected in the first half of 2023.
Project sites are located approximately 85 kilometres from both Ceres and Touwsrivier – in the Karoo region – and mark the company’s first projects in the Western Cape. Totalling 273 MW of installed capacity, on a combined land area of 765 hectares, Scatec will sell power from the solar plants under a 20-year Power Purchase Agreement (PPA) to Eskom.
Scatec will own 51% of the equity in the projects with H1 Holdings, our local Black Economic Empowerment partner owning 46.5% and a Community Trust holding 2.5%. Scatec will be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance, as well as Asset Management services to the facilities.
Author: Bryan Groenendaal
