Scatec Solar teams with Prudential Capital, Google to fund power plant

By Lisa Kerner

Charlotte, N.C., Jan. 7 – Scatec Solar ASA entered into financing agreements totaling $157 million for the construction of a 104 MW Red Hills solar power plant in Utah.

Total investment in the plant, Scatec’s largest in North America, is estimated at $188 million.

Prudential Capital Group will provide debt financing, Google will provide tax equity. and Scatec will provide sponsor equity, according to a news release.

A partnership jointly owned by Scatec and Google will own the power plant.

Scatec Solar is an integrated independent power producer based in Oslo.

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