South Africa: Scatec and Stanlib increase stake in solar projects


01 Sep 2018 | 1 minute read

Scatec Solar and Stanlib Private Equity Infrastructure Fund I have increased their shareholdings in 75MW Kalkbult, 36.8MW Linde and 75MW Dreunberg solar projects in South Africa. The pair acquired Norfund’s 21% stake in Kalkbult and KLP Norfund’s 16% stake in Linde and Dreunberg. Both companies were already shareholders in the projects, with Scatec increasing its stake from 39% to 45% in all three projects and Stanlib acquiring an additional 10.45% of Linde and Dreunberg and 15% of Kalkbult.

Kalkbult, located in the Northern Cape, was selected in the first round of the renewable energy independent power producer procurement programme and began operating in November 2013. Linde and Dreunberg were both selected in the second round of the programme and began operating in June and November 2014 respectively. Linde is located near Hanover in the Northern Cape and Dreunberg near Burgersdorp in the Eastern Cape.

“South Africa continues to be an important market for Scatec Solar and with the construction of the Upington plants we will have solid position with a production capacity of 448 MW in the country”, Scatec chief executive Raymond Carlsen said. “This investment allows us to secure further solid returns from a well-performing asset portfolio and contributes to strengthening our portfolio approach to the South Africa market”.

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