Africa Release

pending

 Scatec (https://Scatec.com/) is a leading global renewable energy developer specializing in the development, construction, ownership, and operation of solar, wind, and hydro power plants, as well as battery storage solutions. With more than 4.6 GW in operation and under construction across four continents, Scatec has established a wholly-owned subsidiary, Release. Release focuses on designing, financing, and installing scalable solar power plants and battery storage, leasing out the equipment on short- or long-term contracts.IFC aims to support up to US$165 million in financing to facilitate the deployment of modular solar and battery storage systems under Release's leasing model. This model targets public utilities in International Development Association (“IDA”)/ Fragile and Conflict-Affected Situations (“FCS”) countries in Sub-Saharan Africa, with an initial rollout planned for West and Central Africa (the Project). Release intends to replicate this rapid deployment model to address shortfalls in local grid power supplies throughout the region.Release currently has three assets in various stages of completion, ranging from near-completion in Cameroon to pre-preparatory works in Chad. These assets are developed utilizing a rolling delivery model of build, connect, and deliver:Cameroon: The development of two 15 MW PV stations (Guider and Maroua) in partnership with Cameroon's main power provider, ENEO, as the owner/operator.Chad: The project involves the development of a 30 MW PV station southeast of N'Djamena, Chad, with Société National d'Eléctricité (SNE) as the owner/operator. The project is in the early development stage, with site identification completed.Release is actively exploring additional opportunities in Liberia, Sierra Leone, and Ghana.