Scatec Solar secures a 117 MW solar project in Argentina together with Equinor
19 Junio 2018 - 1:00AM
Oslo, June 19, 2018: Scatec Solar
has together with Equinor signed an agreement with the Portuguese
company Martifer Renewables for the acquisition of the 117 MW PV
project Guanizuil IIA located in the Province of San Juan in the
northwest of Argentina.
The project was awarded a Power
Purchase Agreement (PPA) in the RenovAR auction process held by
CAMMESA, the Argentinian Wholesale Power Market Administrator, in
November 2017.
The project company has a 20-year
PPA with CAMMESA with a price of approximately 50 USD/MWh and is
expected to produce about 308,000 MWh of electricity annually.
Construction start is expected later in 2018 with the plant to be
placed in commercial operation by the end of 2019.
"With this agreement we are
securing our first project in the growing solar market in
Argentina. We see several additional opportunities in the country
based on excellent solar irradiation as well as government support
for renewables," says Raymond Carlsen, CEO of Scatec Solar. "We are
expanding our cooperation with Equinor to Argentina following the
successful partnership in Brazil where the Apodi project was
launched last year."
Argentina is targeting to further
expand its RenovAR program. PPAs have already been awarded to
renewable energy projects of more than 4 GW. Over the past 18
months, approximately 1.5 GW of solar projects have been awarded in
two consecutive utility scale solar auctions. To reach the goal of
having 20% of energy generated from renewable sources by 2025, the
Argentinean government estimate that 10 GW of additional renewable
capacity is needed.
Scatec Solar will on a 50/50 joint
venture basis together with Equinor build, own and operate the
power plant in San Juan. Total capital expenditure to realise the
plant is estimated at USD 95 million and will be funded with 40%
equity from Equinor and Scatec Solar (50% each), and 60% from a
construction bridge loan provided by Equinor. When the plant is in
operation the sponsors plan to secure suitable long-term project
financing from a third party.
For further
information, please contact:
Mr. Mikkel Tørud, CFO,
tel
+47 976
99 144 mikkel.torud@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 1,000
MW.
The company is producing
electricity from 322 MW of solar power plants in the Czech
Republic, South Africa, Rwanda, Honduras and Jordan and has 1,092
MW under construction. 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
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Scatec Solar ASA via Globenewswire
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