Scatec Solar and Equinor have started construction of the Guanizuil IIA solar plant located in the Province of San Juan in the northwest of Argentina utilising the agreed Equinor bridge loan facility. Late November 2018, the partners signed the 20-year power purchase agreement for delivery of electricity from the 117MW solar power plant with CAMMESA.
"We are pleased to have reached these significant milestones for our first project in Argentina. The project is ramping up activities according to plans with expected commercial operation by year-end 2019", says Raymond Carlsen CEO of Scatec Solar.
Total capital expenditure to realise the plant is estimated at USD 103 million and the plant will be owned 50% by Scatec Solar and 50% by Equinor. The power plant is expected to produce about 308,000MWh of electricity annually providing electricity to 80,000 households.
Scatec Solar will be project lead in a jointly owned construction company while Equinor will provide a construction bridge loan covering 60% of the capex required for the project. The project company will source all major components to the project directly. The partners have started a process to secure suitable long-term project financing to the project.
With the Guanizuil IIA plant in construction, Scatec Solar has a total of 877MW under construction and 584MW in operation.