Scatec Partners ACME For Entering Indian Solar Market

In Solar, Clean News, News, Sustainability
Scatec

Scatec has entered in a partnership with ACME, a leading solar developer in India, to construct a 900 MW solar power plant in the state of Rajasthan, India.

Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, they develops, builds, owns and operates solar, wind and hydro power plants and storage solutions.

It has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. It is targeting 15 GW capacity in operation or under construction by the end of 2025. It is headquartered in Oslo, Norway.

Scatec

The Indian project holds a 25-year PPA with Solar Energy Corporation of India (SECI) secured in a tender in 2018.

The project has an estimated total capex of USD 400 million, with 75% debt financing from an Indian state-owned lender. Scatec will hold a 50% economic interest in the project, while ACME will retain 50%.

ACME will be the turn-key EPC (Engineering, Procurement and Construction) provider for the project.

Scatec will ensure delivery according to international standards, HSSE and E&S, as well as optimization of engineering, procurement and operations of the plants.

The annual production from the plant is expected to be 1,600 GWh.

This is a Syndicate News Feed; edited by Clean-Future Team

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