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Scatec sells 54% stake in 8.5MW solar PV plant in Rwanda

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The ASYV solar power plant in Rwanda. At the plant, eight SMA Sunny Central 800CP inverters in four Medium-Voltage Power Station 1600SC systems convert direct current into alternating current, providing around 15,000 Rwandan homes with electricity every year. Image credit: SMA

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  • Scatec has sold its 54% equity share in the ASYV 8.5 MW solar power plant in Rwanda for USD 1.38 million to Fortis Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd. 

“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.

Author: Bryan Groenendaal

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Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

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