Norwegian solar energy company Scatec has been selected as the preferred bidder for Haru BESS, a 123 MW/492 MWh battery storage project in South Africa. This was announced in a press release.
The project, with an estimated investment value of approximately R2.2 billion (US$120 million), involves Scatec signing a 15-year agreement to provide storage capacity to the National Transmission Company of South Africa.
Scatec will own just over half of the project, which is 90 percent financed by project loans and the remainder by equity from the owners.
"Today's award confirms our position as a leading player in renewable energy in South Africa. Battery storage will continue to play an important role in the energy transition," says CEO Terje Pilskog.
The project is expected to be commercially operational by the first quarter of 2026 and will be located in the Free State province.
Scatec ASA is a Norway-based renewable energy solutions provider. The Company develops, builds, owes and operates solar, wind and hydro power plants and storage solutions across four continents. Scatec reports on four operating business segments: Power Production (PP), Services, Development & Construction (D&C) and Corporate. The Power Production segment manages the Group’s power producing assets and derives its revenue from the production and sale of solar, winds and hydro generated electricity based on long-term Power Purchase Agreements or Feed-inTariffs. The Services segment comprises Operations & Maintenance (O&M) and Asset Management services provided to solar and hydro power plants where Scatec has economic interest. The Development & Construction segment derives its revenue from the sale of development rights and construction services to project entities. Corporate consists of the activities of corporate and management services.
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