Scatec Solar introduces Release: Making solar simple

Oslo, 18 September 2019: Scatec Solar is launching a service that offers industrial players in emerging markets access to flexible, reliable and low-cost power through solar plant leasing.

The new service, called Release – by Scatec Solar, offers companies flexible leasing agreements of pre-assembled solar and battery equipment, from 1 to 20 MW capacity. The solution is particularly attractive for companies in remote locations that rely on diesel driven power generators but would like access to cost efficient and clean energy. Today, approximately 600 GW of large-scale diesel is installed globally. This represents a significant market opportunity for smaller scale solar power.

“Scatec Solar is renowned for financing, building and operating large-scale solar plants. Hence, offering smaller scale plants that require limited upfront investment for the customer is a natural step in expanding our emerging markets offering. This ingenious pre-assembled and containerised solution, combined with a financial leasing model, allows us to provide a highly competitive solution to this end of the market”, says Raymond Carlsen, CEO of Scatec Solar.

The company has partnered with UK-based Cambridge Energy Partners to deliver the container-based tracker solution. The bifacial solar panels are pre-assembled and will be shipped in containers, delivered and installed at customers’ sites. The modular system enables scalability, quick installation and redeployment.

A battery storage solution is an integral part of the Release offering. The batteries can either be utilised to optimise diesel and solar uptake by reducing spinning reserve and optimising load, or to shift load from day to night. Release has framework agreements in place with Tesla and DEIF for supply of batteries with an integrated solution.

Flexible contract duration
Given the ease of redeploying the solar plants, Release offers flexible contract duration for customers.

“The combination of a leasing agreement and flexible contract length greatly reduces the customer’s financial liabilities. Furthermore, using the customers own site for the solar plant means that less permits and licenses are required, which combined with our pre-assembled product results in shorter preparation and installation time”, Carlsen adds.

Starting in Africa
The typical Release-customer is an industry player operating in remote locations, for example off-grid mining operations powered by diesel. However, the solution is also applicable for small utilities with diesel or thermal generation, or on-grid users with high cost of electricity and unreliable power supply. The UN or NGO’s can also benefit from such solar power plants.

“Essentially, we are making solar as simple as possible, while at the same time providing end-users with a highly reliable power source”, says Carlsen.

Initially, Release will target the African market with its new solar power plant solution. A broad pipeline of projects is already under development with a diversified range of customers. Release’s African operation has been established in partnership with Norfund. Scatec Solar will operate and manage the operations with a dedicated team based on proven capabilities. Release is currently also developing opportunities in Asia and Latin America.

For further information visit www.releasesolar.com, or contact:
Ingrid Aarsnes, Communication & IR
tel: +47 950 38 364
ingrid.aarsnes@scatecsolar.com

Hans Olav Kvalvaag, Release
tel: +47 901 71 318
Hans.Olav.Kvalvaag@scatecsolar.com

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1.3 GW. The company has a total of 1.9 GW in operation and under construction on four continents.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. To learn more, visit www.scatecsolar.com.