Scatec Makes First Drawdown for Mendubim Solar Project in Brazil

Source: www.gulfoilandgas.com 3/23/2023, Location: South America

Scatec ASA has made the first drawdown under a USD 243 million non-recourse loan facility, to partly finance construction of the 531 MW Mendubim project in Brazil, after signing the loan documents in November 2022. The loan is provided by IDB Invest, part of the Inter-American Development Bank Group, Banco Santander, and BNP Paribas. Construction of the Mendubim solar power plant is continuing with high activity and according to plan, and the overall progress has reached 34 percent.

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