Starting Shot: 47 MW Redsol Project of Scatec Solar has started Commercial Operation

Oslo, Norway - Scatec Solar and partners have reached grid connection and commercial operation for the 47 MW Redsol Solar project in Northwest Malaysia.

The project has been realised in a consortium with Fumase (Malaysia) Sdn Bhd, a US- and Malaysia-based asset management and development company focused on renewable energy in Southeast Asia. The project was awarded in March 2018 under Malaysia’s second large scale solar tender round and holds a 21-year offtake agreement is with Tenaga Nasional Berhad – the Malaysian utility company.

“As the leading independent power producer in Malaysia, we are pleased to reach this important milestone for our fourth project in the country. We expect that the government will maintain the same level of ambition for the renewable energy sector as before, and Malaysia continues to be a prioritised market for Scatec Solar”, said Raymond Carlsen, CEO of Scatec Solar.

The RENIXX group Scatec Solar is specialized in the development and operation of solar power plants in international markets. The company has solar projects with a total capacity of 1,900 megawatts (MW) in operation and under construction on four continents. By the end of 2021, the company is aiming for a capacity of 4,500 MW in operation and under construction.

Scatec Solar's share price has so far gained 1.3 percent to EUR 21.30 in today's trading (06.10.2020, 12:40 pm, Stuttgart Stock Exchange). Since the beginning of the year, the share price has thus risen by a total of around 69 percent.

Source: IWR Online, 06 Oct 2020