Oslo, July 22, 2025: SCATEC ASA has been preferred for a total of 846 MW Solar (the crowned city of PV cluster), in the seventh round of the Independent Power Producer Procurement Program (REPPP) of the renewable energy in South Africa. The prize follows a reclassification of mrs under the seventh bidding window from Onthore Wind to Solar PV. Once operational, the projects offer clean and reliable energy among the 20-year-old PPAs.
The cluster is located in the province of Free State and consists of three solar energy plants, Oslagte Solar 2 (293 MW), Oslagte Solar 3 (293 MW) and Lion sprout Solar (260 MW). The estimated total project costs for the solar product project are 13 billion (USD 735 million). The projects will be financed with a maximum of 90% non-recourse project debt and the remaining equity of the owners.
“I am bothered to announce another important milestone for Scatec in South Africa and for the renewable energy transition of the country. The crown city of PV cluster is an important addition to Scatec’s growing renewable energy printing print in Sub-Sahara Africa. We are again a trusted partner in the region. Terje Pilskog.
“I am proud to announce the largest Megawatt Award from Scatec in South Africa so far, which is a will of the strong track record, possibilities and competitive advantage of our organization. Zuid -Africa is one of our core markets and we are committed to growing our capacity of the land of renewable energy.
We are now looking forward to achieving financial closure and to start the construction of the PV cluster in 2026, ”says Alberto Gambacorta, EVP and GM for Africa Behuiden de Sahara.
SCATEC will have 50.90% of the equity in the project with the Stanlib infrastructure fund (via its platform for renewable energy, Greenstreet), together with Redstreet that has 46.50% and a community confidence with 2.6%. SCATEC will offer Engineering, Purchasing and Construction (EPC), Operations & Maintenance (R&M) and AS AM) services to the project. Financial Close is expected in 2026.
For more information, contact:
For analysts and investors:
Andreas Austell, SVP IR
Andreas.austell@scatec.com
+47 974 38 686
For media:
Meera Bhatia, SVP External Affairs and Communication
meera.bhatia@scatec.com
+47 468 44 959
About Scatec
SCATEC is a leading provider of renewable energy solutions that accelerates access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build and operate renewable energy factories, with 6.2 GW in operation and under construction on five continents today. We are committed to growing our capacity of renewable energy, supplied by our passionate employees and partners who are powered by a common vision of ‘improve our future’.
This information is subject to the disclosure requirements in accordance with section 5-12 The Norwegian Securities Trading Act
kine
scatec.com
