Norway-based Scatec Solar has begun construction on a 75 MW photovoltaic project in South Africa. The plant will be built on the Northern Cape, in Kalkbult. The plant will produce in excess of 145 million kWh annually. The electricity will be sold to Eskom under a 20 year PPA.

The €200 million capital investment needed for the project will come from South Africa’s Standard Bank. Meanwhile, Scatec Solar is the majority owner and will provide equity financing, along with Standard Bank, Old Mutual Life Assurance Company and Simacel.

VERD Q.I.’s CEO Sabine Christiaens, has advised Standard Bank, as equity investor, on the EPC and O&M contracts and has assisted Standard Bank in bringing the project to financial close.