Scatec to install 900 MW PV plant in India
Post date: 07/06/2021 - 12:17
Norwegian solar project developer and power plant operator Scatec ASA has entered a partnership with Indian solar developer ACME to realize a 900 MW solar power plant in the state of Rajasthan, India. The project holds a 25-year PPA with Solar Energy Corporation of India (SECI) secured in a tender in 2018.
The facility is Scatec's first PV plant in India. According to the company, the project has an estimated total capex of $400 million, with 75 percent debt financing from an unnamed Indian state-owned lender. Scatec will hold a 50 percent economic interest in the plant, while ACME will retain 50 percent. ACME will be the turn-key EPC (Engineering, Procurement and Construction) provider. The annual production is expected to be 1,600 GWh. Construction is expected to start in 2021 with scheduled completion in 2022.