Scatec's 65 MW Gurun solar project commissioned in Malaysia (in the picture) is the Norwegian company’s first solar project in Southeast Asia. (Photo Credit: Scatec Solar)
- Scatec Solar commissions its first solar power plant in Malaysia with 65 MW capacity
- It is part of the three solar projects with 197 MW aggregate capacity that Scatec Solar is developing in Malaysia in partnership with local ITRAMAS-led consortium
- The company has also achieved financial closure for 47MW Redsol project, its fourth solar power plant in the country
- It has also started construction on 117 MW Guanizuil IIA solar power plant in San Juan province in Argentina, along with Equinor
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Norwegian solar power project developer Scatec Solar has grid connected its first PV plant in in Southeast Asia. The 65 MW Gurun solar power plant is first of three 65 MW solar plants under completion in Malaysia, said Scatec Solar. Located in the north-west of Peninsular Malaysia, the project is expected to generate about 94,000 MWh of clean energy annually.
In Malaysia, Scatec Solar has partnered with local ITRAMAS-led consortium to develop the 3 plants with 197 MW aggregate capacity for an investment of MYR 1,235 million ($293 million). All 3 projects carry 21-year power purchase agreements (PPA), each with national electricity utility Tenaga Nasional Berhad (TNB).
Scatec Solar also achieved financial closure for its fourth solar power plant in the country, the 47 MW Redsol project in northwest Malaysia. It is developing this project in a consortium with Fumase (Malaysia) Sdn Bhd, a South and Southeast Asia focused US and Malaysia based renewable energy asset management and development company. It won the project in the country’s second large scale solar tender round in December 2017 (see Malaysia Awards Over 450 MW PV Capacity).
This Redsol project is expected to come online in Q4/2019, and will have Scatec Solar providing turnkey EPC services, operation and maintenance and asset management services. Total project investment will be an estimated $47 million, with BNP Paribas providing non-recourse financing and covering 73% of the project cost. Scatec Solar will provide 100% of the project’s equity.
117 MW Argentina project
The company, along with Norwegian energy company Equinor, has also started construction on the 117 MW Guanizuil IIA solar power plant in San Juan province in Argentina. It holds a 20-year PPA with Argentinian wholesale power market administrator, CAMMESA. The project is expected to start commercial operations by the end of 2019. Scatec Solar expects the project to cost capital expenditure of $103 million, with Equinor providing a construction bridge loan that covers 60% of the capex required for the project.