Scatec sells shares in Upington solar plant to Stanlib for R979m

Renewable energy company Scatec has signed an agreement with asset management company Stanlib Infrastructure Fund to sell its 42% equity share in the 258 MW Upington solar power plant for R979-million. “The transaction is in line with our strategy to optimise our portfolio and will release capital for new investments in renewable energy. We are very pleased to secure a value-accretive transaction and are confident that Stanlib will be a solid owner of the asset going forward,” says Scatec CEO Terje Pilskog.