Scatec ASA

Scatec closes sale of 8.5 MW solar power plant in Rwanda

Oslo, 1 August 2024: Scatec ASA, a leading renewable energy company in emerging

economies, has closed the divestment of its 54% equity stake in the 8.5 MW solar

power plant in Rwanda to Fortis Green Fund I Rwanda Holdings Ltd (Fortis) and

Axian Energy Green Ltd (Axian) for USD 1.38 million. This announcement follows

the notice provided to the market in the fourth quarter of 2023.

"We continue to deliver on our strategy to consolidate our portfolio through

divestment of assets in non-core markets, and recycling capital into new

investments in renewable energy. We are very satisfied with the closing and

would like to thank the teams in Scatec, Fortis, Axian and other parties

involved for a successful transaction. We are confident that the new owners will

take good care of the solar power plant and continue to deliver clean renewable

energy to the Republic of Rwanda for many years to come," says Scatec CEO Terje

Pilskog.

Scatec has also exited from the operations, maintenance, and asset management

agreements for the power plant and has officially discontinued all operations in

Rwanda.

For further information, please contact:

For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,

For media: Meera Bhatia, SVP External Affairs and Communications, phone:

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy in emerging markets. As a long-term player,

we develop, build, own, and operate renewable energy plants, with 4.6 GW in

operation and under construction across four continents today. We are committed

to grow our renewable energy capacity, delivered by our passionate employees and

partners who are driven by a common vision of 'Improving our Future'. Scatec is

headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the

ticker symbol 'SCATC'. To learn more, visit www.scatec.com

(https://scatec.com/) or connect with us on LinkedIn

(https://www.linkedin.com/company/scatec).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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