Scatec sells 104MW Utah plant to Macquarie

October 3, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
The 104MW plant was the first utility-scale solar project in Utah. Source: Scatec Solar.

Scatec Solar has sold its interest in the Utah Red Hills solar plant to a subsidiary of the Macquarie Infrastructure Corporation (MIC).

The Norwegian company said it had received US$28 million for the sponsor equity it invested in the project.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“We have over the last six months conducted a broad sales process,” said Raymond Carlsen, CEO, Scatec Solar. “This transaction confirms the solid underlying value of Scatec Solar's assets and we will redeploy the capital into new and attractive growth markets. We are actively pursuing a growth strategy with a clear-cut focus on developing utility-scale solar plants in emerging markets,” he added.

According to the company’s website, a 20MW project in the Czech Republic is its sole remaining interest outside of emerging markets.

The 104MW Utah Red Hills plant was the first utility-scale system in the state. It was financed with US$188 million of investment with Google providing tax equity, Prudential Capital Group offering debt financing and Scatec’s sponsor funding.

Scatec Solar and Google owned the site through a partnership with the former managing and operating the plant.

The deal with MIC Renewable Energy Holdings is expected to close before the end of the year.

16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 30, 2025
US microinverter producer Enphase Energy posted increased revenues, margin and income in Q3 2025, as it doubles down on its US manufacturing operations.
October 30, 2025
Nexamp has secured US$600 million in financing for distributed solar and energy storage projects in the US.
October 29, 2025
NextEra Energy Resources added 3GW of new renewable energy generation and storage capacity to its portfolio in the third quarter of 2025.
October 29, 2025
US solar manufacturer Corning has brought online its wafer production at its Michigan plant, during the third quarter of 2025.
October 27, 2025
Engie has signed additional PPAs with Meta, expanding their partnership to more than 1.3GW across four solar projects in Texas.
October 27, 2025
Waaree Energies has secured four solar module supply contracts totalling 692MW – three for projects in India and one in the US through its subsidiary.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany