$26.90/Watt acquisition fee for sale at COD. Going into construction finance (at DE ratio of 85/15) they had hard and soft equity on the books of $21M. Difference in value between NTP and COD = $7M.
4.10.2016: Norwegian independent solar power producer Scatec Solar ASA has entered into an agreement for sale of 100% of the sponsor equity in the 104 MW »Red Hills« solar power plant Parowan, Utah, USA, with MIC Renewable Energy Holdings LLC, owned by Macquarie Infrastructure Corporation. The facility consists of 325,000 PV modules of an unnamed manufacturer mounted on single-axis trackers. The sale is expected to generate gross proceeds to Scatec Solar of $28 million. The proceeds are subject to further working capital adjustments at closing. The consolidated book value of Scatec Solar's sponsor equity in the project company is $21 million while the total balance sheet value is $137 million including project finance debt. The transaction is expected to close before the end of 2016.
Scatec Solar had secured $157 million in construction financing for the Utah Red Hills Renewable Park (URHRP) in January 2015. It was energized in mid December 2015 and sells its output to PacifiCorp’s Rocky Mountain Power under a 20-year PPA.
Prior to this transaction, Scatec Solar held 426 MW of large scale solar plants in operation. In addition, the company has a backlog of projects with secured long-term off-take agreements of 422 MW and in addition to a pipeline of about 1.2 GW globally.
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