Oslo, 21 December 2018: Scatec Solar and partners have closed financing for the
47 MWp Redsol project in Northwest Malaysia with a total investment of
approximately USD 47 million. BNP Paribas will provide the non-recourse project
finance facility for the project, covering 73% of the project cost.
The solar power plant is expected to deliver 67 GWh of electricity per year with
annual revenues of approximately USD 6 million. The project is being realised in
a consortium with Fumase (Malaysia) Sdn Bhd, a US- and Malaysia-based asset
management and development company focused on renewable energy in South and
Southeast Asia. The Redsol project was awarded under Malaysia's second large
scale solar tender round in December 2017 and will be Scatec Solar's fourth
solar power plant in the country.
"With this project we continue to strengthen our position as the leading solar
IPP in Malaysia and as a long-term partner to meet the country's renewable
energy targets", says Raymond Carlsen, CEO of Scatec Solar.
Scatec Solar will provide 100% of the project's equity. In addition, the company
is turn-key EPC provider and will be providing Operation & Maintenance as well
as Asset Management services to the power plant. Construction will start
imminently with grid connection expected in fourth quarter 2019.
For further information, please contact:
Mikkel Tørud, CFO tel: +47 976 99 144
mikkel.torud@scatecsolar.com (mailto:mikkel.torud@scatecsolar.com)
Ingrid Aarsnes, Communication & IR tel: +47 950 38 364
ingrid.aarsnes@scatecsolar.com (mailto:ingrid.aarsnes@scatecsolar.com)
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering
affordable, rapidly deployable and sustainable clean energy worldwide. A long-
term player, Scatec Solar develops, builds, owns, operates and maintains solar
power plants and has an installation track record of more than 1 GW. The company
has a total of 1.5 GW in operation and under construction in Argentina, Brazil,
the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South
Africa and Ukraine.
With an established global presence and a significant project pipeline, the
company is targeting a capacity of 3.5 GW in operation and under construction by
end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the
Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit
www.scatecsolar.com (http://www.scatecsolar.com/).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act