Scatec Solar and STANLIB Private Equity Infrastructure Fund 1 acquire additional interests in South African solar portfolio

Scatec Solar has announced that alongside STANLIB Private Equity Infrastructure Fund 1, it is purchasing all of Norfund's 21% shares in the Kalkbult solar plant, and KLP Norfund's 16% shares in Linde and Dreunberg solar plants, all located in South Africa. The total capacity of the plants is 190 MW.

Both Scatec Solar and STANLIB, a South African infrastructure investment fund, are existing shareholders in the plants. Scatec Solar is acquiring 33% of the shares and STANLIB is acquiring the balance of the shares. The parties have agreed not to disclose the value of the transaction.

Final closing of the transaction is pending approval from the South African Competition Commission Authorities and is expected to take place during the fourth quarter 2018.