Scatec closes sale of solar power plant in Mozambique to Globeleq
December 29 2023 - 6:06AM
Scatec closes sale of solar power plant in Mozambique to Globeleq
29 December 2023: Scatec ASA, a leading renewable energy company
in emerging economies, has today closed the divestment of its 52.5%
equity share in the 40 MW Mocuba solar power plant in Mozambique to
Globeleq for USD 8.5 million (NOK 86 million).
“We are pleased to have closed this transaction, which is in
line with our strategy to optimise our portfolio including the
divestment of smaller assets in non-focus markets,” says Scatec CEO
Terje Pilskog. “The transaction's success will free up resources
for our targeted markets and generate funds for fresh ventures in
renewable energy. We are delighted to have completed a
value-enhancing deal and have full confidence that Globeleq will be
a good owner of the asset in the future. I would like to
thank the Government of Mozambique, Electricidade de Moçambique and
our team who worked on the project delivering electricity to the
nation.”
The transaction will generate a net accounting gain of
approximately USD 4 million on a consolidated basis and USD 3
million on a proportionate basis.
Globeleq is an independent power producer in Sub-Saharan Africa,
with over 2.1 GW power production capacity in operation or under
construction. The company is owned 70% by British International
Investment and 30% by Norfund.
The Mocuba solar power plant is located in the Zambézia Province
of Mozambique and was commissioned in August 2019. The project has
an annual production of approximately 75 GWh and holds a 25-year
PPA with the state-owned utility, EDM. As part of the transaction,
Globeleq will assume responsibility for operations &
maintenance and asset management services for the power plant.
For further information, please contact: For
analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38
686, andreas.austrell@scatec.com For media: Meera
Bhatia, SVP Communications & Government Affairs,
phone: +47 468 44 959, meera.bhatia@scatec.com About
Scatec Scatec is a leading renewable energy
solutions provider, accelerating access to reliable and affordable
clean energy emerging markets. As a long-term player, we develop,
build, own, and operate renewable energy plants, with 4.3 GW in
operation and under construction across four continents today. We
are committed to grow our renewable energy capacity, delivered by
our passionate employees and partners who are driven by a common
vision of ‘Improving our Future’. Scatec is headquartered in Oslo,
Norway and listed on the Oslo Stock Exchange under the ticker
symbol ‘SCATC’. To learn more,
visit www.scatec.com or connect with us
on LinkedIn.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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