Norway-based Scatec ASA has reached financial close for its 142MW Rio Urucuia solar PV plant in Minas Gerais, Brazil. The BRL 506 million (~$ 91 million) project is scheduled to reach commercial operation in the first half of 2026. Banco do Nordeste do Brasil is providing BRL 150 million (~$ 27 million) in non-recourse financing, covering 30% of the total cost. Scatec earlier secured EUR 25 million from Impact Fund Denmark to support its equity share. The company’s total expected equity injection by COD is BRL 201 million (~$ 36 million). A 10-year power purchase agreement with Statkraft covers 75% of the energy output. The remaining electricity is to be sold via short to long-term PPAs. Scatec holds full ownership and will introduce equity partners post-COD.