Scatec sells off its last U.S. solar plant

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Scatec Solar reported today that it has closed on the sale of its sponsor equity in the 104 MW-DC (80 MW-AC) Utah Red Hills PV project to MIC Renewable Energy Holdings, a subsidiary of Macquarie Infrastructure Corporation. The plant is already online and connected to the grid, and the sales agreement was announced nearly three months ago.

This was Scatec’s last solar plant in the United States, and the company had earlier announced that it would cease development activities in the nation. After the transaction, Scatec holds 322 MW of operational utility-scale solar plants in Czech Republic, Honduras, Jordan, Rwanda and South Africa. The company also retains a backlog of 731 MW of projects with long-term power contracts.

But as Scatec is getting out of Utah, the state’s market has come out of nowhere to rise to one of the prime destinations in the United States for utility-scale solar. In the third quarter of 2016 the state installed a whopping 875 MW-DC of solar, which put it second behind only California.

This is the third U.S. solar project that MREH has acquired from Scatec and brings the company to around 350 MW of renewable energy capacity, roughly half of which is solar PV.