Global Infrastructure SherpaScatec sells partial ownership in Kalkbult, Linde, and Dreunberg solar power plants in South Africa to STANLIB Infrastructure Fund II for ZAR 921 million
USD921M
Deal Value
190 MW
Capacity
Scatec ASA has signed an agreement to sell part of its ownership in the Kalkbult, Linde, and Dreunberg solar power plants, totaling 190 MW, to Greenstreet 1 Proprietary limited, a subsidiary of STANLIB Infrastructure Fund II, for ZAR 921 million (USD 50 million). This transaction aligns with Scatec's strategy to recycle capital into new renewable energy investments, while STANLIB, an existing investor, will become a majority owner. Scatec will continue to provide Operations & Maintenance and Asset Management services to the facilities.
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Counterparts (4)
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Scatec is selling a partial stake in its 190 MW Kalkbult, Linde, and Dreunberg solar plants in South Africa to STANLIB Infrastructure Fund II for ZAR 921 million. This isn't a full exit; Scatec, a developer and operator in emerging markets, will recycle the capital into new renewable energy investments while retaining the lucrative O&M and asset management contracts. For STANLIB, an existing investor, the transaction deepens its commitment by moving to majority ownership in these operational assets. It's a clear capital recycling play, allowing Scatec to unlock value from mature assets while maintaining a service revenue stream in a key market.
- ZAR 921M (USD 50M) partial sale of 190 MW solar portfolio.
- Scatec retains O&M and Asset Management for the facilities.
- STANLIB Infrastructure Fund II, an existing investor, becomes majority owner.
Timeline
Announced
Aug 2, 2024
Signed
Closed
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