Norway’s Scatec ASA, a leading renewable energy solutions provider, has completed the sale of its stakes in the Kalkbult, Linde, and Dreunberg solar plants in South Africa to Greenstreet 1, a subsidiary of STANLIB Infrastructure Fund II. The transaction generated ZAR 921 million (USD 51 million) in total proceeds, with a ZAR 1.86 billion (USD 103 million) enterprise value. Scatec retained 13% and 12% stakes in the plants and holds an option to repurchase shares in 2034. It will continue to provide Operations & Maintenance and Asset Management services.
STANLIB acquires majority stake in Kalkbult, Linde, and Dreunberg PV plants
Scatec retains 13% and 12% stakes in Kalkbult, Linde, and Dreunberg solar plants after the sale to STANLIB. (Image Source: Scatec)
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