Scatec ASA has achieved financial close for the 130 MW Barzalosa solar project in Colombia and has commenced construction. The project has executed a 15-year power purchase agreement with BTG Pactual Comercializadora de Energía, the Colombian energy trading subsidiary of Banco BTG Pactual S.A., Brazil. The agreement will account for around 85 per cent of the plant’s expected generation, while the remaining output will be traded in the Colombian power market.
Scatec ASA holds a 65 per cent equity stake in the project, with Norfund providing the remaining equity participation. The total capital expenditure is estimated at $121 million. The project will be financed through a combination of non-recourse debt and equity, with leverage of approximately 70 per cent. Additionally, Bancolombia and Financiera de Desarrollo Nacional are serving as senior lenders for the project.
The project is scheduled to reach commercial operation in the first half of 2027. Scatec ASA is the lead developer of the project and will act as the engineering, procurement and construction (EPC) provider, covering around 70 per cent of the total capex under the EPC scope. Moreover, the company will deliver operations and maintenance as well as asset management services for the project.
Scatec ASA has achieved financial close for the 130 MW Barzalosa solar project in Colombia and has commenced construction. The project has executed a 15-year power purchase agreement with BTG Pactual Comercializadora de Energía, the Colombian energy trading subsidiary of Banco BTG Pactual S.A., Brazil. Scatec ASA holds a 65 per cent equity stake in the project, with Norfund providing the remaining equity participation.
