IFC provides $100M financing package to Release by Scatec for modular solar PV and battery storage solutions in Africa

IFC has committed a $100 million financing package to Release by Scatec, a provider of modular solar PV power containers and battery storage solutions, to boost clean electricity generation in Africa. The financing, comprising $50 million senior debt from IFC's own account and $50 million in blended finance from various programs, will support the addition of 35 MW and 36 MW of power to the national grids in Chad and Cameroon, respectively. This initiative aims to address erratic power supply, high tariffs, and a large carbon footprint in the region by deploying cost-competitive, reliable, renewable solutions.

Counterparts (7)

Lender

C

Canada-IFC Renewable Energy Program for Africa

company

IFC

company

IFC, a member of the World Bank Group, is a leading global development institution focused on the private sector in developing countries. They provide investment, advisory, and asset-management services to encourage private sector development in less developed countries.

I

International Development Association's Private Sector Window (IDA PSW) Blended Finance Facility

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F

Finland-IFC Blended Finance for Climate Program

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C

Canada-IFC Blended Climate Finance Program

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Investor

Scatec ASA

company · 5 deals

Scatec is a renewable energy solutions provider focused on accelerating access to reliable and affordable clean energy in emerging markets. They develop, build, own, and operate renewable energy plants.

borrower

R

Release by Scatec

company