EnergyWatch

Scatec Solar secures investment for largest solar plant yet

Norwegian solar power developer Scatec Solar is one step closer to the realization of the company's biggest project ever. An African bank has chipped in on the 100 MW project.

African investment fund Africa 50, where backers include the Africa Development Bank, will now enter Norwegian Scatec Solar's ambitious Nova Scotia solar plant in Nigeria with a capital injection, albeit an undisclosed amount. Norwegian investment bank Norfund will  also invest in the facility.

This brings Scatec Solar's largest project ever one crucial step closer to realization. The project, planned for construction in northern Nigeria, will have capacity of 100 MW and an investment budget of USD 150 million. Scatec Solar has so far constructed a total of 426 MW worth of solar power plants, so the Nigerian project is a significant next step.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

WindEurope warns against negative auction bids

If more countries introduce negative bids, where firms pay to establish wind projects, it could lead to higher electricity bills or more pressure on the supply chain, says the industry association.

BW Offshore halved bottom line in Q1

The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.

Equinor exits Russia

Norwegian oil company Equinor has taken its final step out of the Russian market by transferring joint venture assets to Rosneft.

Further reading

Related articles

Latest News

See all jobs