Release by Scatec raises USD 102 million in funding from Climate Fund Managers to accelerate growth ambitions

Climate Fund Managers is taking a 32% equity stake in Release by Scatec, investing $55 million as part of a larger $102 million financing package. This capital infusion, which also includes $47 million in shareholder loans, is earmarked to accelerate Release's expansion, particularly into the African utilities and mining sectors. CFM, known for financing renewable energy in developing countries, is backing Release's flexible leasing model for modular solar and battery equipment. Scatec ASA will maintain a 68% majority share, supporting their subsidiary's growth beyond its current 47 MW portfolio across markets like Cameroon, South Africa, and South Sudan, with new contracts already secured in Chad.