Editing Scatec ASA (section)

==== Selling-off Non-product Assets ====
<blockquote>Oslo, 18 July 2023: Scatec ASA, a leading renewable energy company in emerging markets, has today signed an agreement with Globeleq to sell its 52.5% equity share in the 40 MW Mocuba solar power plant in Mozambique for USD 8.5 million (NOK 85 million), in line with the company’s strategy. </blockquote>This transaction is in line with Scatec's strategy to optimise their portfolio, which includes the divestment of smaller assets in non-focus markets. 

The project has an annual production of approximately 75 GWh and holds a 25-year PPA with the state-owned utility, EDM. As part of the transaction, Globeleq will assume responsibility for operations & maintenance and asset management services for the power plant. 

The transaction is expected to generate a net accounting gain of approximately USD 4 million on a consolidated basis and USD 3 million on a proportionate basis. The final accounting effects will be determined on closing of the transaction. The transaction is subject to the customary consents and is expected to close in the first half of 2024.