STANLIB to acquire a 60% stake in Upington solar park from Scatec and Norfund for $56m.

STANLIB, a South African asset manager, agreed to acquire a 60% stake in Upington solar park, an energy infrastructure, from Scatec, a renewable energy company in emerging markets, and Norfund, a private equity firm, for $56m. “Today’s transaction is in line with our strategy to optimise our portfolio as presented at our Capital Markets Update in September 2022 and will release capital for new investments in renewable energy. We are very pleased to secure a value accretive transaction and are confident that STANLIB will be a solid owner of the asset going forward,” Terje Pilskog, Scatec CEO.