Scatec ASA has been awarded preferred bidder status for an 846 MW solar project, known as the Kroonstad PV cluster, in South Africa's Free State province. This award, under the seventh round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), involves three solar power plants: Oslaagte Solar 2, Oslaagte Solar 3, and Leeuwspruit Solar. The total project cost is estimated at ZAR 13 billion (USD 735 million), with financing structured through up to 90% non-recourse project debt and equity from the owners. Scatec will own 50.90% of the equity in the project, with Stanlib's infrastructure fund and a Community Trust holding the remainder. The project aims to provide clean, reliable energy under 20-year power purchase agreements, with construction expected to commence in 2026. Scatec will also manage engineering, procurement, construction, and maintenance services for the cluster. CEO Terje Pilskog highlighted the significance of this project for Scatec's renewable energy portfolio in Sub-Saharan Africa and praised the South African government's commitment to clean energy.
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