Renewable-energy developer Scatec has sold its 54% equity stake in the the 8.5 MW solar power plant in Rwanda to Fortis Green Fund and Axian Energy Green for $1.38-million.
Scatec has also exited from the operations, maintenance and asset management agreements for the power plant and has officially discontinued all operations in Rwanda.
“We continue to deliver on our strategy to consolidate our portfolio through divestment of assets in noncore markets and recycling capital into new investments in renewable energy,” says Scatec CEO Terje Pilskog.
“We are confident that the new owners will take good care of the solar power plant and continue to deliver clean renewable energy to the Republic of Rwanda for many years to come,” he adds. 