(MENAFNEditorial) Oslo, June 11, 2018: Scatec Solar has signed agreements securing two projects with capacity of 33 MW and 50 MW in the Cherkassy region of Ukraine.
The projects will be realized under the country's Feed-in-Tariff (FiT) scheme and the two plants are expected to produce about 106,000 MWh per year. Land will be leased for an extended time-period from the local municipalities and the plants are expected to deliver power also beyond the 10-year FiT period.
Total capex for the projects is estimated to EUR 85 million. The project finance process has been initiated with the European Bank of Reconstruction and Development (EBRD) in lead. Financial close and construction start is expected later in 2018 with commercial operation during 2019.
"We are very enthusiastic about securing our first two projects in Ukraine to our backlog, and we see it as a first step to develop a larger portfolio of solar power plants in the country. Ukraine is actively working to change their energy mix and increase the share of power supplied from renewables. We are very pleased to once again partner with EBRD to promote renewables and open a new market for solar", says CEO Raymond Carlsen.
Scatec Solar will be the lead equity investor in the projects and is targeting to secure additional equity partners for the projects. Scatec Solar will be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plants.
For further information, please contact:
Mr. Mikkel Tørud, CFO, tel +47 976 99 144
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
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