Construction of the75 MW Kalkbult Solar PV Plant in the Northern Cape Province in South Africa. Photo: Scatec Solar
Scatec Solar is one of the world’s leading independent project developers and Engineering Procurement and Construction (EPC) providers for utility-scale solar photovoltaic (PV) power plants. Norfund has committed to invest NOK 111 million in equity in Scatec Solar's three first PV projects in South Africa: Kalkbult (75MW) and Linde (40MW) in Northern Cape, and Dreunberg (75MW) in Eastern Cape. Scatec Solar has been awarded the projects through the first and second round of the South African energy program aiming to increase the utilization of the country's major renewable energy resources (Renewable Energy Independent Power Producer Procurement Program).
South Africa struggles with an electricity demand larger than the production capacity. The country has excellent solar conditions and the three solar plants will produce about 370 million kWh annually, enough to supply more than 88 000 South African households with electricity. Harvesting solar power through the plants represents CO2 abatements of almost 315 000 tons per year.
Norfund has signed a memorandum of understanding with Scatec Solar, where Norfund will invest up to NOK 190 million in Scatec Solar´s solar PV projects in South Africa.