Scatec ASA, an Oslo-listed renewable energy solutions company, has entered into a 15-year PPA with BTG Pactual Comercializadora de Energía. The deal was entered into with the subsidiary of Banco BTG Pactual S.A. Brazil for a 130 MW PV plant under development in Nariño, Colombia. Around 85% of the plant’s output is contracted under the PPA, while the remaining electricity is expected to be sold in the local market. According to Scatec, the PPA is denominated in Colombian Pesos and is inflation-adjusted through the Producer Price Index. The $110 million project has Scatec contributing 80% of capital expenditure, while also providing EPC, operations, maintenance, and asset management services. Norfund, an Oslo-based development finance institution, has joined as a minority equity partner, while non-recourse debt financing with 65% leverage is under negotiation. Financial close and construction are targeted in 2025, with Scatec set to retain majority ownership and expand its Latin American portfolio.