Scatec ASA

Scatec refinances wind power plant in Vietnam and receives net proceeds of USD 6 million

Oslo, 25 April 2022: Scatec, a leading renewable energy solutions provider, has

refinanced the USD 37 million of non-recourse project debt for the 39 MW wind

power plant Dam Nai in Vietnam.

With this refinancing, Scatec has achieved improved project return through a

reduced interest margin and a covenant relief which allows for an immediate cash

distribution of USD 6 million.

The Dam Nai wind farm is 100 percent owned by Scatec and was part of the

acquisition of SN Power in early 2021. It is located in the Ninh Thuan province,

approximately 350 kilometres north of Ho Chi Minh City, in the southern part of

the Southeast Asian country.

Vietnam is an important market for Scatec, and the refinancing demonstrates how

project returns can be enhanced when renewable assets and financial markets in

countries where Scatec operate becomes more mature. The refinancing is being

facilitated by Vietcombank, one of the largest commercial banks in Vietnam.

"We are very pleased with the improved financing terms and project returns

resulting from the refinancing. This transaction is the result of our continuous

efforts to improve value creation for our operating portfolio through financial

optimisation," says CFO Mikkel Tørud.

For further information, please contact:

Andreas Austrell, VP Investor Relations

Tel: +47 974 38 686, [email protected]

About Scatec

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

reliable and affordable clean energy in high growth markets. As a long-term

player, we develop, build, own and operate renewable energy plants, with 3.5 GW

of installed capacity across four continents today. We are targeting 15 GW of

renewable capacity to be in operation or under construction by the end of 2025,

delivered by our 600 passionate employees 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://www.globenewswire.com/Tracker?data=vr-

I0kn3Hk6syN1556T2ScLONZ4eFOv11fHMwNuys4xtmwjcE8dlfvlOsnE7qFQLG9gduWfwfW_HJqvi-

NRsEg==) 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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