Scatec sells three South African solar power plants for ZAR 921 million

Scatec ASA sells part of its stake in the Kalkbult, Linde and Dreunberg solar power plants to Greenstreet 1 Proprietary Limited, a subsidiary of STANLIB Infrastructure Fund II, to finance new growth opportunities
Centrale solaire Kalkbult

Partagez:

Scatec ASA, a leader in the field of renewable energies, announces the sale of part of its interests in the Kalkbult, Linde and Dreunberg solar power plants, located in South Africa, to Greenstreet 1 Proprietary Limited.
This subsidiary of STANLIB Infrastructure Fund II, managed by STANLIB Asset Management Proprietary Limited, is acquiring these assets for a total of ZAR 921 million (USD 50 million).
Scatec currently owns around 46% of Kalkbult and 44% of Linde and Dreunberg.
Following this transaction, Scatec will reduce its holdings to around 13% and 12% respectively.

Ongoing commitment in South Africa

Terje Pilskog, CEO of Scatec, emphasizes that the sale is part of the company’s strategy to recycle capital for investment in new renewable energy projects.
Scatec will continue to provide management and maintenance services for the three plants.
The plants were developed as part of Rounds 1 and 2 of South Africa’s REIPPP (Renewable Energy Independent Power Producer Procurement Programme).

Development prospects

Present in South Africa for over a decade, Scatec reaffirms its commitment to this strategic market.
Future projects include the Grootfontein solar power plants, the Mogobe battery storage project, and Lyra Energy, a private sector-led initiative.
The first phase of the transaction is expected to close in the second half of 2024, followed by the second phase in the first half of 2025.
Closing of the transaction is subject to lender, shareholder and regulatory approvals.
The partial sale of the Kalkbult, Linde and Dreunberg solar power plants enables Scatec to finance new growth opportunities while consolidating its presence in South Africa.
This capital reallocation strategy is essential for the company’s continued development in the renewable energies sector.

  • Populaires ​
Emeren Group signs definitive merger agreement to go private
Europe accelerates gas storage filling despite declining reserves
Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Orano challenges Niger’s decision to nationalize mining company SOMAÏR
Russia ready to deliver liquefied natural gas to Mexico
NamPower launches $90.3mn solar power plant to secure Namibian energy
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh Mandates Solar Panels on Public Buildings to Secure Energy Supply
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
Global electricity access reaches 92%, 666 million people still excluded
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Global solar panel recycling market to reach $548mn by 2030
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Global photovoltaic market heading towards $968.32bn by 2030
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol and Akuo sign major solar energy supply agreement
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy invests €174.8mn in major solar park in Romania
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.
CleanCapital acquires 27 MW solar assets and strengthens US presence
CleanCapital expands its portfolio by acquiring solar and energy storage assets totaling 27 MW in California and Massachusetts from Pacifico Energy to meet growing demand in the United States.
BrightNight launches 300 MW solar plant in Arizona with Cordelio Power
BrightNight and Cordelio Power commission a major 300 megawatt solar project in Arizona, attracting significant investments from JPMorgan and Capital One, with estimated local economic benefits of $180mn.
Austria introduces a 20% bonus for European photovoltaic equipment
Austria is launching an unprecedented 20% bonus on photovoltaic subsidies to promote equipment manufactured in Europe, with a total envelope of €20 million dedicated to solar installations and energy storage systems.
Longi and Pertamina launch 1.6 GW solar plant in Indonesia
Chinese manufacturer Longi will invest alongside Pertamina NRE in a 1.6 GW site at Deltamas, aiming to strengthen the local photovoltaic chain and capture demand expected under Indonesia’s power plan.
OMV Petrom invests in major 400 MW solar project in Bulgaria
OMV Petrom acquires 50% of the 400 MW Gabare photovoltaic project near Sofia, in partnership with Enery, in a deal valued at approximately €200 million including a potential energy storage solution.
Global SCADA market to reach $3.56bn by 2030
Driven by strong solar adoption, the global SCADA systems market for renewable energy is expected to reach $3.56bn by 2030, with an estimated average annual growth rate of 12.7%, according to MarketsandMarkets.
France: RATP inaugurates its first solar power plant with Urbasolar
RATP and Urbasolar officially inaugurated the Colombier photovoltaic power plant, the first large-scale solar installation operated by the Parisian public transport operator, set to produce 14 GWh of electricity per year.
European Energy secures €70m to fund two major solar projects in Australia
Danish developer European Energy finalises financing deal exceeding €70m for constructing two Australian solar plants, totalling 137 megawatts of installed capacity on the local electricity market.
Zambia secures $26.5mn for the 32 MW Ilute solar project
The African Development Bank financially supports Zambia with $26.5 million for the 32 MW Ilute solar project, structured to avoid reliance on sovereign guarantees.
Global solar tracker market: growth projected to reach $29.31bn by 2030
The global solar tracker market is expected to reach $29.31bn by 2030, driven by a compound annual growth rate of 26.2%, notably supported by large-scale photovoltaic projects and recent technological advances, a new study reports.
EMBER: Solar with batteries becomes profitable in the world’s sunniest regions
A report from the think tank Ember reveals that falling battery prices now make year-round solar power generation economically viable in the world's sunniest regions.
MondialBox Saint-Nazaire inaugurates 4,500 m² of photovoltaic canopies with ActiSun
MondialBox Saint-Nazaire deploys 2,300 photovoltaic panels covering 4,500 m², annually generating 800 MWh of decarbonized energy, in partnership with SeeYouSun and Sonadev, via ActiSun, a program dedicated to solarizing industrial and commercial spaces.
Equinor launches its first solar power plant in Denmark through subsidiary BeGreen
The Ingerslev Å solar plant, operated by BeGreen, an Equinor subsidiary, begins production in Denmark, adding a capacity of 65 MW and generating approximately 68 GWh annually for the local DK1 electricity market.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS