Scatec Sells off Stakes in Sub-Saharan Africa, Pumps Money into Egypt’s RenewablesBy Toyin AkinoshoNorwegian developer Scatec is winding down in sub-Saharan Africa. “We continue to deliver on our strategy to consolidate our portfolio through divestment of assets in non-core markets, and recycling capital into new investments in renewable energy”, Scatec says in a release. The company currently holds an economic interest of approximately 46% in the Kalkbult and 44% in the Linde and Dreunberg solar power plants. Scatec is focused on Egypt as it walks out of Sub-Saharan Africa. And while the company has EVPs focused for Asia and Europe, It has no such personnel dedicated to sub-Saharan Africa.

Source: The North Africa Journal August 09, 2024 10:45 UTC