Norwegian government guarantees financing for Scatec's Thakadu Solar project
Type: Financing · Technology: Solar · Country: South Africa · Capacity: 254 MW · Announced: 2026-09-15
The Norwegian government has issued a guarantee of up to NOK 150 million (€13 million) to support the development of Scatec's 254 MW Thakadu Solar project in South Africa. The financing mechanism will reduce payment risk for Lyra Energy, a power trading platform partly owned by Scatec, by covering potential losses if customers fail to pay for electricity purchased through the platform. Scatec will build and operate the project, which is expected to generate enough electricity to meet the consumption of approximately 150,000 to 200,000 households. The project's output will be sold directly to businesses in South Africa.
Counterparties
- Lyra Energy (Borrower)
- Scatec ASA (Developer)
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