Scatec wins battery storage project in South Africa

The South African Department of Mineral Resources and Energy has awarded Scatec ASA the preferred bidder status for the 123 MW/492 MWh Haru BESS Battery Energy Storage Project.

Scatec has secured a 15-year agreement under which it will be compensated for providing battery storage capacity to the National Transmission Company of South Africa (NTCSA), which will use the resource to support grid stability. The project's total capital expenditure is estimated at ZAR 2.2 billion (USD 120 million), with around 80% attributed to Scatec’s engineering, procurement, and construction (EPC) contracts. Financing will be structured through 90% non-recourse project debt, with the remaining 10% covered by equity contributions from the project’s owners.

Scatec will own 50.01% of the equity in the project, with Stanlib’s Greenstreet and Redstreet Funds owning 44.99% and a Community Trust holding 5%. Scatec will provide engineering, procurement, and construction (EPC), operations & maintenance (O&M), and asset management (AM) services to the project. According to the Department of Mineral Resources and Energy, commercial closure is expected to be concluded by the end of Q1 2026. The project will be located in the Free State Province.