21/12-2018 19:25:36: (SSO) Scatec Solar reaches financial close for another 30 MW in Ukraine
Oslo, 21 December 2018: Scatec Solar and partners have closed financing for the 30 MW Kamianka project in the Cherkassy region in central Ukraine with a total investment of EUR 35 million.
The European Bank for Reconstruction and Development (EBRD) and FMO, the Dutch development bank have signed credit agreements for the non-recourse debt financing of the project. The credit facilities amount to EUR 24.5 million and covers 70% of the total project costs.
Scatec Solar will be the lead equity investor in the project and is in the process of securing additional equity partners for the project. The company will also be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plant. Construction is starting early 2019 with commercial operation in fourth quarter 2019.
The project will be realised under the country's 10-year Feed-in-Tariff scheme and are expected to produce about 39 GWh per year. Public land will be leased for an extended time-period and the solar power plant is expected to deliver power also beyond the Feed-in-tariff period.
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Mikkel Tørud, CFO tel: +47 976 99 144 firstname.lastname@example.org
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About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.5 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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