Scatec sells 104MW Utah plant to Macquarie

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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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.

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third 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 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA