Oslo, 31 January 2024: Scatec ASA, a leader in renewable energy solutions, has
finalised construction and started producing clean energy from its 150 MW solar
power plants in Sukkur, Pakistan.
The power plants will generate approximately 300 GWh annually under 25-year USD-
indexed power purchase agreements with Central Power Purchasing Agency of
Pakistan (CPPA).
"I am proud to announce commercial operations of our solar project in Sukkur.
The power plants will generate much needed renewable energy to the people of
Pakistan, covering the electricity need of about 150,000 households while
contributing to sustainable local value creation. I would like to thank the
Scatec team and our partners for this extraordinary accomplishment," says Terje
Pilskog, CEO of Scatec.
Scatec holds an economic interest of 75 percent of the projects and will provide
Operation & Maintenance as well as Asset Management services to the power
plants. The remaining ownership share is held by Nizam Energy, Scatec's local
partner. The non-recourse project debt is provided by FMO, the Dutch development
bank, Faysal Bank, Bank of Punjab, Bank Islami, and Pak Kuwait Investment
Company.
For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,
andreas.austrell@scatec.com (mailto:andreas.austrell@scatec.com)
For media: Meera Bhatia, SVP Communications & Government Affairs, phone:
+47 468 44 959, meera.bhatia@scatec.com (mailto:meera.bhatia@scatec.com)
About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to
reliable and affordable clean energy emerging markets. As a long-term player, we
develop, build, own, and operate renewable energy plants, with 4.2 GW in
operation and under construction across four continents today. We are committed
to grow our renewable energy capacity, delivered by our passionate employees and
partners who are driven by a common vision of 'Improving our Future'. Scatec is
headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the
ticker symbol 'SCATC'. To learn more, visit www.scatec.com
(https://scatec.com/) or connect with us on LinkedIn
(https://www.linkedin.com/company/scatec).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act