Scatec signs up for African projects

Scatec will hold 70% of the joint venture

Scatec will hold 70% of the joint venture

Scatec Solar has signed a partnership agreement with Norfund, the Norwegian Investment Fund for Developing Countries, to jointly invest in PV projects in sub-Saharan Africa.

Oslo-based Scatec will hold 70% of the joint investment company and Norfund 30%.

"Our common objective is to contribute to the increased implementation of renewable energy in sub-Saharan Africa, and the project-to-project co-operation we have had so far has proved very successful," says Scatec chief executive Raymond Carlsen.

Scatec and Norfund have previously been partners in four solar projects in Africa totalling 200MW, three in South Africa and one in Rwanda.

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