Czech Republic: Scatec Solar connects two PV plants to the grid

28. September 2010 | Applications & Installations, Industry & Suppliers | By:  Becky Stuart

Norwegian photovoltaics (PV) company, Scatec Solar, has connected two PV plants worth a total of 2.65 megawatts (MW) to the Czech grid.

Raymond Carlsen

Raymond Carlsen. Image: Scatec Solar.

The projects are the first of a total of 17.5 MW the company plans to complete in the country before year-end.

Both the grid-connected parks are located in the southeastern region of the Czech Republic. The total annual production of the parks is expected to be around 3,000 MWh. The first project at Hrusovany, is a 1.05 MW extension of the existing 2.1 MW plant that the company completed last year. The second plant at Mramotice is a 1.6 MW plant expected to be extended by one MW later this year.

All of Scatec’s Czech projects will reportedly receive debt financing through a portfolio agreement the company has entered into with the Norwegian Eksportfinans, GIEK (The Norwegian Guarantee Institute for Export Credit) and Nordea. Scatec added that the financing framework represents a total potential of €80 million debt finance.

“We are very pleased to have successfully completed these projects in the Czech Republic,” said Raymond Carlsen CEO of Scatec Solar. “We have ambitious goals for the Czech market this year and we are on track to obtain our objective to establish cost efficient solar PV as a sustainable source of energy to Czech consumers.”

“To a large extent, access to debt financing dictates both the size and the tempo in completing solar PV projects, and we dedicate substantial time and internal resources to secure such financing. Through this portfolio agreement, we have obtained the necessary financial predictability to complete projects in the Czech Republic in line with our optimistic plans.”

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Eren Engur

Tuesday, 28.09.2010 23:17

Great new from our neighbours! And it's obvious that with great solar potentials, Turkey & MENA region, will also achieve these amounts by the end of 2011. As market size started to decrease in Europe, other emerging markets will have to boom!


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