Scatec reaches financial close and starts construction of 130 MW solar power plant in Colombia

Scatec ASA has reached financial close and commenced construction of the 130 MW Barzalosa solar plant in Colombia, with a total capital expenditure estimated at USD 121 million. The project, developed in partnership with Norfund, secured non-recourse debt financing from Bancolombia and FDN, and a 15-year Power Purchase Agreement with BTG Pactual Comercializadora de Energía covering approximately 85% of the estimated production. Scatec will also serve as the EPC provider and manage O&M and asset management services for the plant, which is expected to reach Commercial Operation Date in the first half of 2027.

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.

Partner

Norfund

company

Norfund is a Norwegian investment fund that focuses on investing in renewable energy, financial institutions, and infrastructure in developing countries. They aim to create jobs, stimulate economic growth, and contribute to sustainable development.

Lender

Bancolombia

company

Bancolombia is a full-service financial institution offering a range of banking products and services. It participates in infrastructure projects primarily through financing and investment activities.

F

Financiera de Desarrollo Nacional (FDN)

company

Offtaker

B

BTG Pactual Comercializadora de Energía (BTG)

company