Botswana Accelerates Energy Transition: Scatec Commissioning Second Phase of Mmadinare Solar Park - Stock at €8.50

Oslo (Norway) - The Norwegian renewable energy project developer Scatec ASA has started commercial operations of the second 60 MW phase of the 120 MW Mmadinare solar cluster in Botswana.

The Mmadinare Solar Park is Scatec’s first project portfolio in Botswana, with the first phase having been operational since March of this year. The power plant generates predictable revenue under a 25-year power purchase agreement (PPA) with the Botswana Power Corporation, the national utility. Scatec is the sole owner of the project portfolio but plans to reduce its long-term economic interest by bringing in additional capital partners.

“We are very proud to achieve COD for the second phase of the solar power plant portfolio within budget and ahead of schedule, reinforcing our commitment to advancing renewable energy in the region. This is an important first step for Botswana, that holds a significant potential for deployment of competitive and reliable renewable energy to support economic development,” said Terje Pilskog, CEO of Scatec.

“As Botswana accelerates its renewable energy transition, this milestone represents an important moment for the country and region. Solar power is increasingly central to powering communities and driving sustainable growth. We are honoured to operate the country’s first utility scale solar PV facility - and contribute to Botswana’s long term energy ambitions,” said Alberto Gambacorta, Executive Vice President and General Manager for Sub-Saharan Africa.

The two power plants are expected to produce a combined 280 million kWh of clean energy annually, reducing an estimated 380,000 tons of CO₂ emissions. Scatec will operate the plants and manage the facilities.

Scatec shares, listed on the RENIXX index, are trading today at around €8.50.

Source: IWR Online, 15 Dec 2025