News listings

energy-pedia alternative energy

South Africa flagSouth Africa

Middle East / Africa >>> South Africa

South Africa: Scatec closes transaction to divest Upington solar plants in South Africa


01 Jun 2023

Photo - see caption

Scatec, a renewable energy frontrunner in emerging markets, has closed the previously announced transaction to divest the Upington solar plants in South Africa.

The gross consideration for divestment of Scatec’s 42% equity-share in the 258-megawatt (MW) plants is ZAR 973 million (NOK 546 million). As previously communicated the proceeds will be recycled into new investments within renewable energy.

Photo - see caption
Scatec closes transaction to divest Upington solar plants in South Africa

'We are very pleased to secure a value accretive transaction, in line with our strategy to optimise our portfolio and recycle capital. South Africa remains a focus market for us, and we will continue to build scale through new investments in the country. I would like to thank all parties involved in the transaction,' says Scatec CEO Terje Pilskog.

The net accounting gain is estimated to be NOK 791 million on a consolidated basis and NOK 348 million on a proportionate basis. The difference is primarily explained by the D&C margin related to the projects which has been eliminated in the consolidated statement of financial positions.

Scatec will continue to provide operations & maintenance (O&M) and asset management services to the plants.

Original article link

Source: Scatec





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 249

Completed Deals

Completed Upstream Deals: 6552

Company Profiles

Current Company Profiles: 2910

Corporate Activity

Current Corporate Activity articles: 4127

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1652

Geostudies

Current Geostudies articles: 962

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Rose & Assocs
energy365
Government of South Australia
OPC
Merlin
Union Jack Oil 149
Bayphase
Syntillica
Borchwix
Telos NRG
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com