Release by Scatec secures 64 MW solar and 10 MWh battery storage lease agreements in Liberia and Sierra Leone

Release by Scatec, majority-owned by Scatec ASA, has signed new lease agreements for 64 MW of solar power and 10 MWh of battery storage across Liberia and Sierra Leone. These projects, including a 24 MW solar plant with a 10 MWh BESS in Liberia and a 40 MW solar project in Sierra Leone, aim to replace fossil fuel generation, improve grid reliability, and support local economic development. The agreements are supported by a USD 100 million loan and a USD 65 million guarantee facility from the World Bank's IFC, established in 2023, to mitigate financial risk for Release's clients.

Counterparts (5)

Developer

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.

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Release by Scatec

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Offtaker

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Ministry of Energy

company

The Ministry of Energy of Saudi Arabia is the governmental body responsible for developing and regulating the Kingdom's energy sector, including oil, gas, electricity, and renewable energy. It sets national energy policies, oversees major infrastructure projects, and drives investment in line with Vision 2030.

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Liberia Electricity Corporation (LEC)

company

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EGTC

company