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Norway's Scatec buys remaining stake in Czech solar developer
19 Apr 2010 / Solar / Mergers & acquisitions / Norway
Scatec Solar, a Norwegian PV company, has acquired the 33.3% it did not already own in Czech project developer Signo Solar to take advantage of that country’s thriving market.

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25.02.2010
Scatec Solar completes share capital increase

Scatec Solar, the global turn-key supplier of commercial solar PV (photo voltaic) solutions, today announced that is has completed a share capital increase among existing shareholders. Itochu Corporation has contributed the majority of the capital and as a result has increased its ownership in Scatec Solar to 37.5 %.
- We are very pleased to have completed this share capital increase which is proof that our owners remain confident in both our company and the solar industry, Mr. Raymond Carlsen, CEO of Scatec Solar said. - The capital will be instrumental in the further development of our business, to strengthen our position in existing markets, and to pursue interesting new developments, Mr. Carlsen said.
Scatec Solar has started 2010 on a very positive note. The company has major projects under development in Germany, Czech, France and Italy plus a series of projects in other parts of the world. Current and potential projects sum up to a project pipeline of more than 300 MW of PV capacity.
- The injection of fresh capital allows us to take advantage of the opportunities that lie ahead of us and move us into a leading position as a solar plant integrator in Europe, Mr. Carlsen said.
Itochu Corporation was holding a 10 % stake in Scatec Solar after an investment made in 2008. By contributing the majority of the new share capital, the Japanese company has increased its interest to 37.5 %.
- ITOCHU endeavors to create a value chain of solar energy business and aim to contribute to a renewable energy society, and we are sure that this additional investment will significantly enhance and strengthen our strategic alliance with Scatec Solar for downstream activities, Mr. Fujioka, General Manager of ITOCHU said.

Scatec, the founder and largest shareholder of Scatec Solar, also participated in the share capital increase, but in line with its business strategy to focus resources on developing companies from start-up through their early phase, it welcomed Itochu’s wish to increase its ownership share of the solar EPCI company.
- Itochu Corporation has been an important, long term partner to Scatec and subsidiaries. It is rewarding to register, that through this share capital increase we have strengthened our cooperation and confirmed our joint commitment to build a world leading solar energy provider, Dr. Alf Bjørseth, the founder of both Scatec and Scatec Solar, said.

About Scatec Solar
Scatec Solar is a global turn-key supplier of solar PV solutions, with headquarters in Oslo, Norway. It was established in 2007 by Dr. Alf Bjorseth, the founder of, among several other renewable energy initiatives, Renewable Energy Corporation, one of the world’s largest integrated solar energy enterprises.
Scatec Solar has subsidiaries in Germany, The Czech Republic, Italy, US and India. Within weeks another subsidiary will open in France. In addition to having developed more than 67 MW of grid-connected solar parks in Europe, Scatec Solar is engaging in rural electrification in emerging markets, emphasized by the inauguration in January 2009 of two Community Solar Power Plants (CSPPs) in two villages in Uttar Pradesh, India.
 

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http://www.scatecsolar.com/

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Scatec Solar and Sanhe Group establish joint venture to build 2.5 GW solar power in China

Oslo / Shanghai May 29th 2010

SanSca, a joint venture company between the Norwegian developer and supplier of PV solar parks and the Chinese renewable energy company Sanhe Group, today signed a historic agreement with Datang Renewable Energy Corporation. The partners will build a Green Energy Farm in Taonan, in the province of Jilin, consisting of 100 MW of Wind Power and 5 MW Solar Photovoltaic (PV) Power, the latter as a part of China’s National Golden Sun Program. The agreement was signed at a ceremony at the EXPO 2010 in Shanghai with the Governor of Jilin and the Norwegian Minister of Trade and Industry present.

Further to the Jilin-project, SanSca and Datang Renewable Corp, part of China Datang Corporation, China’s second-largest power producer, signed an agreement covering the realization of 2500 MW of PV plants in the provinces of Gansu, Inner Mongolia, Jilin, Ningxia and Sichuan in the period 2011-2016.

Under the agreement Sanhe Group and Scatec Solar will jointly develop the PV projects, while Scatec Solar will be the EPCI partner to design and build the PV plants. The purpose of the first 5 MW State-of-the-Art PV power generation plant in the Green Energy Farm which will be built and put in production this year, is to demonstrate cost-efficiency, high performance and optimal land use, and to serve as a benchmark for China’s plan to build more than 25 GW solar power before 2020

- China is on the offensive when it comes to green energy in general and is emerging as the World’s most important market for solar PV systems, Raymond Carlsen, CEO of Scatec Solar, said. – As an international enabler of PV systems, we are thrilled to have the opportunity to join efforts with the Sanhe Group to develop and build large scale plants for a major customer like the Datang Renewable Corporation, he said.

The areas chosen for the PV projects are very well suited for profitable solar energy production with excellent solar irradiation, no shading elements and in a fresh zone to keep modules in the lowest, most efficient temperature range. The Green Energy Park will also combine solar and wind energy in the same concession area, providing better land use, optimal use of transmission lines, and solar covering the Wind farm’s internal power consumptions.

- We have long experience in the development of renewable energy projects and are very pleased to be able to draw on the European solar PV expertise of Scatec Solar when embarking on large scale development of PV plants in China, Luk Wing Sang, Chairman of The Sanhe Group said. - Solar energy is fast becoming competitive with other renewable energy sources, and gaining experience from combining wind and solar energy will contribute to this development, he said.

As part of the cooperation between Chinese and Norwegian renewable energy companies, SanSca entered into an agreement with Norwegian Eltek Valere where Eltek will be the preferred supplier of inverters to these and other PV projects realized by SanSca.

-This is a great opportunity for us, says Rune Finne, CEO of Eltek Valere. It proves our strong position in the power electronics industry, with state of the art products, service and support, and is an opportunity for Eltek Valere to strengthen our value add activities and competitiveness in China. We are excited to be the preferred inverter partner for SanSca, and are committed to support this cooperation by providing innovative and competitive inverter solutions to ensure optimum energy yield from these power plants, he said

The Norwegian Minister of Trade and Industry, Trond Giske, was also present at the signing ceremony.
- Norwegian green tech businesses will find great opportunities in China and the country has the potential to become an important market for Norwegian green technologies, Mr. Giske said. Norway has leading competence and technologies in this business segment. Therefore, it is important to gain momentum and make the most of the opportunities the Chinese market represents. My hope is that more Norwegian companies will find inspiration in Scatec Solar’s international success, he said.

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28.09.2010
Scatec Solar grid connects two Solar PV plants in the Czech Republic - secures € 80 million portfolio financing for 20MW

Oslo, September 28th 2010

Scatec Solar, the global turn-key supplier of solar PV (photo voltaic) solutions, had two solar PV parks with a total capacity of 2.65 MW grid connected in the Czech Republic last week. These projects are the first of a total of 17.5 MW the company plans to complete in the country before year end. These projects will all receive debt financing through a portfolio agreement Scatec Solar has entered into with the Norwegian Eksportfinans, GIEK (The Norwegian Guarantee Institute for Export Credit) and Nordea.

- We are very pleased to have successfully completed these projects in the Czech Republic, Raymond Carlsen CEO of Scatec Solar, said. – We have ambitious goals for the Czech market this year and we are on track to obtain our objective to establish cost efficient solar PV as a sustainable source of energy to Czech consumers.

The new solar plants will be financed through a loan agreement with Eksportfinans, the Norwegian export credit institution for export financing, owned by banks and the Norwegian Ministry for Trade and Industry. This is the first closing under a portfolio structure where Eksportfinans is providing the funding with backing in the form of guarantees from GIEK (The Norwegian Guarantee Institute for Export Credit) and the corporate bank, Nordea. The total framework for this financing extends to all the Czech projects Scatec Solar has in its pipeline for 2010 and represents a total potential of € 80 million debt finance.

- The portfolio agreement with Eksportfinans, GIEK and Nordea is a milestone in our activities in the Czech Republic and will secure financing at beneficial terms and conditions for all the projects we plan to complete this year, Raymond Carlsen said. – To a large extent, access to debt financing dictates both the size and the tempo in completing solar PV projects, and we dedicate substantial time and internal resources to secure such financing. Through this portfolio agreement we have obtained the necessary financial predictability to complete projects in the Czech Republic in line with our optimistic plans, Carlsen said.

Both the grid connected parks are located in the south eastern region of the Czech Republic where we find the country’s best solar irradiation conditions. The total annual production of the parks will be around 3 000 MWh (3 million kWh). The first project at Hrusovany, is a 1.05 MW extension of the existing 2.1 MW plant that Scatec Solar completed last year. The second plant at Mramotice is a 1.6 MW plant expected to be extended by 1 MW later this year.

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http://www.greentechmedia.com/articles/read/solar-developer-…

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08.12.2011
Scatec Solar is selected as preferred bidder for 75 MW solar PV plant in South Africa

Oslo – Durban, Dec 8th, 2011


Scatec Solar, the global developer and turn-key supplier of solar PV (photo voltaic) solutions, has been selected as a preferred bidder for a 75 MW project during the first round of the South African Renewable Energy Independent Power Producer Program. A PV plant of this size will be amongst the largest to date in Africa. Construction will commence by July 2012 and the plant will be in commercial operation by August 2013.

- We are very pleased to have been awarded the opportunity to realize this 75 MW PV plant in South Africa, Raymond Carlsen, CEO of Scatec Solar said. – Our experienced team has for the past two years been actively developing project opportunities in this promising market, and we will build on our extensive knowledge base from successfully completed projects all over the world when we now devote ourselves to pioneer South Africa’s renewable energy industry by constructing the first of a series of utility scale solar parks in the country, Mr. Carlsen said.

This substantial PV project has been developed by Scatec Solar through its South African joint-venture company Scatec Solar SA. The plant will be located in Kalkbult in the sun drenched Northern Cape region that boasts some of the best conditions for solar power anywhere in the world. Covering an area of 105 ha, comparable to about 140 football fields, the plant will produce in excess of 145 million kWh annually, enough to cover the electricity demand of 35 000 South African households. The power will be fed into the local grid network and sold through a 20-year Power Purchase Agreement with the local utility company, Eskom. Harvesting solar power through this plant represents CO2 abatements of approx 125 000 tons per year.

The capital investment for the project is in the range of € 200 million and will be financed through South Africa’s largest commercial bank, Standard Bank. The consortium providing the equity finance consists of Scatec Solar as the majority owner, Standard Bank, Old Mutual Life Assurance Company and Simacel.

Scatec Solar has for the past two years been actively working in the highly promising South African market in anticipation of the support scheme for renewable energy, which was the launched this August. These development efforts have materialized into a substantial pipeline of projects across South Africa.

The local value creation of the 75 MW project will be substantial. The construction of the plant will provide significant local job opportunities and there is also a commitment in terms of utilizing local content to stimulate the nascent South African renewable industry. - Scatec Solar and its contractors will provide the requisite training, certifications and follow-up to a predominantly unskilled work force to assure that needed skills are developed locally, said Jed Borrill, Managing Director of Scatec Solar SA

A certain part of the revenue from the park as well as the project dividends will be earmarked on Socio Economic Development initiatives in the area around the project site where the primary focus will be on skills development, Educational and Health initiatives.