Scatec divests Rwanda solar stake to Fortis, Axian

Norway-based Scatec ASA, a leading renewable energy firm in emerging markets, has completed the sale of its 54% stake in an 8.5 MW solar power plant in Rwanda. The stake, acquired by Fortis Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd for $1.38 million, was part of Scatec’s strategy to streamline its portfolio and reinvest in new projects. According to Scatec ASA, this divestment aligns with its focus on core regions and new renewable initiatives. Scatec ASA has ceased all operational, maintenance, and asset management activities related to the plant, officially withdrawing from Rwanda. Scatec is confident that the new owners will uphold the plant’s operational standards and continue delivering sustainable energy to the region.