Norwegian firm Scatec sells stake in South African solar plants, gains $1.5B, retains buyback option.
Scatec ASA, a Norwegian renewable energy firm, has finalized the sale of parts of its ownership in three South African solar power plants to Greenstreet 1 Proprietary Limited, a STANLIB subsidiary. The transaction generated about USD 1.5 billion in gains and Scatec received USD 24 million in the final phase. Scatec retains an option to buy back the shares for a nominal sum in 2034 and will continue to manage the plants.
November 20, 2024
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