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 Scatecs 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.?