Scatec ASA secures PPA with Statkraft Energia

Scatec ASA has secured a 10-year PPA with Statkraft Energia do Brasil Ltda, a subsidiary of Statkraft AS, for a 142 MW PV plant in Minas Gerais, Brazil. The deal marks Scatec’s third solar project in Brazil, raising its total capacity to 835 MW. The PPA, valued in Brazilian Real (BRL), covers 75% of anticipated power output. The solar plant’s total capital expenditure stands at $94 million, mainly financed by non-recourse financing and Scatec’s equity. The plant’s financial close and construction commencement are slated for the latter half of 2024, targeting commercial operations by late 2025. Scatec will manage the project’s EPC, retaining 100% ownership initially, with plans to onboard equity partners post-commercial operation.