Scatec ASA, a global leader in sustainable energy solutions, has officially commenced operations at its state-of-the-art 150 MW solar power plants in Sukkur, Pakistan.
In a significant stride towards bolstering Pakistan’s renewable energy capacity, Scatec ASA, a global leader in sustainable energy solutions, has officially commenced operations at its state-of-the-art 150 MW solar power plants in Sukkur, Pakistan.
The completion of construction marks a pivotal moment, as the facilities are now actively producing clean energy to meet the rising demand for sustainable power in the region.
Under 25-year USD-indexed power purchase agreements with the Central Power Purchasing Agency of Pakistan (CPPA), the solar power plants are poised to generate an impressive 300 GWh annually. This substantial output is expected to cover the electricity needs of approximately 150,000 households, significantly contributing to the nation’s renewable energy goals and fostering sustainable local value creation.
Terje Pilskog, CEO of Scatec, expressed pride in the accomplishment, stating, “I am proud to announce commercial operations of our solar project in Sukkur. The power plants will generate much-needed renewable energy to the people of Pakistan, covering the electricity needs of about 150,000 households while contributing to sustainable local value creation. I would like to thank the Scatec team and our partners for this extraordinary accomplishment.”
Scatec holds a commanding 75 percent economic interest in the projects and will oversee Operation & Maintenance as well as Asset Management services for the solar power plants.
The remaining ownership share is held by Nizam Energy, Scatec’s dedicated local partner in the venture. FMO, the Dutch development bank, along with Faysal Bank, Bank of Punjab, Bank Islami, and Pak Kuwait Investment Company, have collectively provided non-recourse project debt to support the realization of this ambitious renewable energy initiative.
The successful implementation of the solar power plants in Sukkur underscores Scatec’s commitment to advancing sustainable energy solutions globally. The company’s strategic collaboration with local partners and financial institutions has played a pivotal role in bringing this project to fruition, aligning with Pakistan’s vision for a greener and more energy-efficient future.
As the world grapples with the challenges posed by climate change, Scatec’s achievement in Sukkur stands as a testament to the potential of renewable energy to address environmental concerns while meeting the growing energy demands of communities worldwide.