Norway based Scatec ASA has reached financial close and began construction of the 130 MW Barzalosa solar plant in Colombia on 24 February 2026. The project secured a 15-year PPA with BTG Pactual Comercializadora de Energía, a subsidiary of Banco BTG Pactual S.A., covering about 85% of output with the balance to be sold in the local power market. The COP-denominated tariff is indexed to Colombia’s Producer Price Index. Scatec holds 65% equity, with Norfund owning the remainder. Total capex is estimated at $121 million, financed through roughly 70% non-recourse debt from Bancolombia and Financiera de Desarrollo Nacional, alongside equity. Scatec will serve as EPC contractor and provide O&M and asset management. Commercial operation is targeted for the first half of 2027.