Norway-based Scatec ASA, a leading renewable energy provider, has reached an agreement with Greenstreet 1 Proprietary Limited, a subsidiary of STANLIB Asset Management, to divest part of its stake in its PV plants in South Africa. Currently, Scatec ASA holds approximately 46% in Kalkbult and 44% in both Linde and Dreunberg. As per the agreement, Scatec ASA will reduce its stakes to about 13% in Kalkbult and 12% in Linde and Dreunberg through a two-phase transaction. These plants, with a combined capacity of 190 MW, are valued at ZAR 921 million (USD 50 million). Despite the sale, Scatec ASA will continue to provide Operations & Maintenance and Asset Management services. The first transaction phase is expected to conclude in late 2024, with the second phase wrapping up by early 2025, pending necessary approvals.
Greenstreet acquires solar stakes from Scatec
Despite selling shares, Scatec will continue to provide Operations & Maintenance and Asset Management services for these REIPPP Programme based portfolios. (Image Credit: Scatec)
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