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

Release by Scatec has secured multi-million dollar lease agreements for 64 MW of solar PV and 10 MWh of battery storage in Liberia and Sierra Leone, with the formal announcement slated for 2025-10-16. This development deal, leveraging a hybrid technology solution, provides critical grid stability and clean energy access in West Africa. The lease structure allows Release by Scatec, a joint venture between Scatec and British International Investment, to deploy renewable assets while potentially offering flexible financing terms to off-takers like Liberia Electricity Corporation (LEC), which operates Liberia's 88MW Mount Coffee Hydropower P. This approach secures long-term revenue streams for the developer and addresses energy needs in emerging markets without requiring large upfront capital expenditures from local utilities. Scatec ASA, as the parent developer, continues its focus on accelerating access to reliable and affordable clean energy in emerging markets through this expansion into Liberia and Sierra Leone. The 64 MW solar and 10 MWh battery storage capacity will diversify Liberia's energy mix, complementing LEC's existing 88MW Mount Coffee Hydropower P and enhancing grid reliability with integrated storage. Release by Scatec's mandate to provide flexible solar and battery storage solutions to industrial and commercial customers in emerging markets aligns directly with this project, expanding its operational footprint in West Africa. This deal demonstrates a continued private sector commitment to developing hybrid renewable energy solutions in regions requiring both increased generation and improved grid stability.