Oslo, December 29, 2014: Scatec Solar ASA (‘SSO’), the integrated independent solar power producer, has together with its partners entered into financing agreements totalling about USD 90 million for construction of the 60 MW Agua Fria solar power plant in Honduras. Total investment for the plant is estimated to USD 125 million.
Scatec Solar will construct the plant and in addition provide operation and maintenance services when the plant is in operation.
“Realisation of the Agua Fria project is an important milestone for us, representing our first step into the very promising Latin American solar market”, says Scatec Solar CEO Raymond Carlsen.
Scatec Solar will own 40 percent of the power plant, while Norwegian Norfund/KLP and the local project developer PEMSA each will hold 30 percent. Construction of the facility will start immediately and the plant is expected to be in operation in the second half of 2015.
Annual production from the power plant is estimated to 100,000 MWh, and the electricity produced will be sold under a twenty-year Power Purchase Agreement (PPA) with the utility Empresa Nacional de Energia Electricia (ENEE). The ground-mounted photovoltaic solar facility will deploy approximately 200,000 PV modules on a fixed tilt system and will interconnect to an existing transmission line.
Export Credit Norway (Eksportfinans), The Norwegian Export Credit Guarantee Agency (GIEK) and Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI) will provide the debt for the project.
About Scatec Solar
Scatec Solar is an integrated independent power producer, aiming to make solar a sustainable and affordable source of energy worldwide. Scatec Solar develops, builds, owns and operates solar power plants, and will in 2014 deliver power from 220 MW in the Czech Republic, South Africa and Rwanda. The company is in strong growth and has a solid pipeline of projects under development in Africa, US, Asia, Middle East and Europe. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’.
For more information on Scatec Solar, please visit our home page www.scatec.com