Latest news with #BatteryEnergyStorageIndependentPowerProducerProcurementProgramme
Yahoo
3 days ago
- Business
- Yahoo
Scatec wins preferred bidder status for Haru BESS, South Africa
Renewable energy company Scatec has been awarded preferred bidder status for the Haru battery energy storage system (BESS) project in South Africa. The project, which totals 123MW/492 megawatt-hours (MWh), is part of the third bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP), led by the Department of Mineral Resources and Energy. Under a 15-year agreement, Scatec will receive payments for making the storage capacity available to the National Transmission Company of South Africa (NTCSA), which will use it to balance the grid. The estimated total capital expenditure for the project is approximately R2.2bn ($120m), with Scatec's engineering, procurement and construction (EPC) contracts accounting for roughly 80% of the cost. Scatec CEO Terje Pilskog said: 'Today's award reaffirms our standing as a leading renewable energy player in South Africa. We applaud the South African Government's commitment and dedication to the renewable energy procurement programmes. Battery energy storage will continue to play an important role in the energy transition, and we will continue to be at the forefront across our core markets.' The project financing will consist of 90% non-recourse project debt, with the remainder covered by equity from the owners. Scatec will own a 50.01% stake, Stanlib's Greenstreet and Redstreet Funds will hold 44.99% and a Community Trust will maintain a 5% share. Scatec will also provide engineering, procurement and construction (EPC), operations and maintenance (O&M) and asset management (AM) services. Scatec sub-Saharan Africa GM and EVP Alberto Gambacorta said: 'Dispatchable energy and grid infrastructure are now more important than ever, in the pathway to unlock the sustainability of South Africa's current and future energy system.' The Department of Mineral Resources and Energy anticipates commercial close by the end of the first quarter of 2026, with the project located in Free State Province. "Scatec wins preferred bidder status for Haru BESS, South Africa" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
IOL News
4 days ago
- Business
- IOL News
Scatec wins major battery storage project in South Africa
Norwegian renewable energy company Scatec ASA has been named the preferred bidder for the 123 MW/492 MWh Haru Battery Energy Storage System (BESS) project in South Africa Norwegian renewable energy company Scatec has been named the preferred bidder for the 123 MW/492 MWh Haru Battery Energy Storage System (BESS) project in South Africa by the Department of Mineral Resources and Energy, as part of the third bid window of the country's Battery Energy Storage Independent Power Producer Procurement Programme. Under a 15-year agreement, Scatec will receive payments for providing storage capacity to the National Transmission Company of South Africa (NTCSA), which will use the capacity to stabilise the national grid. The project, with an estimated capital expenditure of R2.2 billion, will be financed through 90% non-recourse project debt and 10% equity from the owners. Scatec's engineering, procurement, and construction (EPC) contracts account for approximately 80% of the total capex. 'This award strengthens our position as a leading renewable energy provider in South Africa,' said Scatec CEO Terje Pilskog. 'Battery storage is critical to the energy transition, and we are committed to driving progress in our core markets.' The project builds on Scatec's experience with hybrid solar and battery storage projects at Kenhardt and the ongoing Mogobe BESS project. 'Dispatchable energy and robust grid infrastructure are vital for South Africa's sustainable energy future,' said Alberto Gambacorta, the general manager and EVP for Sub-Saharan Africa at Scatec. Scatec will hold a 50.01% equity stake in the project, with Stanlib's Greenstreet and Redstreet Funds owning 44.99% and a Community Trust holding 5%. Scatec will also provide EPC, operations and maintenance (O&M), and asset management services. The project, located in the Free State Province, is expected to reach commercial close by the end of Q1 2026. BUSINESS REPORT Visit:
Yahoo
6 days ago
- Business
- Yahoo
Scatec wins battery storage project in South Africa
Oslo, 30 May 2025: Scatec ASA has been awarded preferred bidder status for the Haru BESS Battery Energy Storage Project totalling 123 MW/492 MWh in the third bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) in South Africa, by the Department of Mineral Resources and Energy. Scatec will receive payments under a 15-year agreement for making the storage capacity available for the National Transmission Company of South Africa (NTCSA) which will utilise the capacity to balance the grid. The estimated total capex for the battery energy storage project is ZAR 2.2 billion (USD 120 million) of which Scatec's EPC contracts account for approximately 80%. The project will be financed by 90% non-recourse project debt and the remaining by equity from the owners. 'Today's award reaffirms our standing as a leading renewable energy player in South Africa. We applaud the South African government's commitment and dedication to the renewable energy procurement programmes. Battery energy storage will continue to play an important role in the energy transition, and we will continue to be at the forefront across our core markets,' says Scatec CEO Terje Pilskog. Building on the experience garnered from the hybrid solar and battery storage projects at Kenhardt, and the ongoing construction of Mogobe BESS, Scatec continues to actively support battery integration to stabilise the national grid. 'Dispatchable energy and grid infrastructure are now more important than ever, in the pathway to unlock the sustainability of South Africa's current and future energy system,' adds Alberto Gambacorta, GM and EVP Sub-Saharan Africa, Scatec. Scatec will own 50.01% of the equity in the project with Stanlib's Greenstreet and Redstreet Funds owning 44.99% and a Community Trust holding 5%. Scatec will provide engineering, procurement, and construction (EPC), operations & maintenance (O&M), and asset management (AM) services to the project. According to the Department of Mineral Resources and Energy, commercial close is expected to be concluded by the end of Q1 2026. The project will be located in the Free State Province. For further information, please contact:For analysts and investors:Andreas Austrell, VP 974 38 686 For media:Meera Bhatia, SVP External Affairs & 468 44 959 About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of 'Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn more, visit or connect with us on LinkedIn. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
