Scatec concludes sale of 42% equity stake in 258 MW solar complex in the Northern Cape

Scatec ASA has completed the sale of its 42% equity stake in the 258 MW Upington solar farm complex in South Africa to STANLIB Asset Management Pty Ltd. The gross consideration for the sale was ZAR973 million (US$49.4 million), which Scatec plans to use for new investments in renewable energy.

Scatec will continue to provide operations and maintenance, as well as asset management services for the three solar farms in the Upington facility. Norfund was also expected to sell its 18% stake in Upington in the same deal, although there have been no further updates.

The three solar farms in the Upington facility, Dyason's Klip 1, Dyason's Klip 2, and Sirius, were all commissioned in 2020 and have a combined capacity of 258 MW.