Scatec Solar settles funding for major African project

Norwegian solar developer Scatec Solar will spend USD 76 million building one of Africa's largest solar panel projects to date.

A solar farm of 40 MW will soon deliver power to the people of Mozambique, announces Norwegian solar panel developer Scatec Solar, which specializes in building, operating and selling solar farms in developing nations.

The project in Mozambique, Mocuba Solar, will be the first large solar panel plant in the country and have a capital sum of USD 76 million. It will be financed by a consortium consisting of Scatec Solar, the Norwegian government's development fund KLP Norfund Investment, and EDM, the national energy company in Mozambique.

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