Release By Scatec Enters Into Lease Agreement With ENEO

• Scatec enters into a lease agreement with electricity company ENEO in Cameroon
• The company to deliver two hybrid solar and storage plants totaling 36 MW solar and 20 MW/19 MWh storage
• The plants to supply low cost, clean and reliable electricity in Maroua and Guider in the Grand-North of Cameroon
• The Company to also install 7.7 MWp solar in Chad to supply clean, renewable energy to five smaller grids owned by ZIZ Energie

Pre-assembled, modular and re-deployable solar power and storage system provider Release by Scatec announced that it has entered into a lease agreement with electricity company ENEO in Cameroon. Release will deliver two hybrid solar and storage plants totalling 36 MW solar and 20 MW/19 MWh storage. The plants will supply low cost, clean and reliable electricity in Maroua and Guider in the Grand-North of Cameroon.

Expressing his sentiments, CEO of Scatec Raymond Carlsen said, "We are pleased to enter into this agreement with ENEO, which further fuels our journey to make renewable energy more accessible and affordable across growth markets. The deal marks our entry into the Cameroonian market, and we are proud to contribute with a cost-efficient and immediate solution to a cleaner and more stable electricity supply in a region suffering from power shortages caused by droughts limiting the supply of hydropower."

Release by Scatec will also install 7.7 MW solar in Chad to supply clean, renewable energy to five smaller grids owned by ZIZ Energie. The projects in Cameroon and Chad add to the company's ambitions of providing cost-competitive, high-quality and re-deployable renewable energy solutions with a unique financing model to countries and consumers that are hit hardest by the impact of climate change.

Scatec Solar added Release, as a new revenue generating source to its services portfolio of financing, building and operating large-scale solar plants in September 2019 (see Scatec Enters Solar+Storage Leasing Business)