Scatec ASA

Scatec Solar starts commercial operation of 54 MW in Ukraine

Oslo, 7 May 2020: Scatec Solar and partners have grid connected and started

commercial operations of the 54 MW Boguslav project in the Kyiv region, Ukraine.

"We are pleased to complete our second project in Ukraine less than ten months

after closing the financing. The Boguslav solar plant will lead to the abatement

of more than 55,000 tonnes of CO(²) emissions and contribute to growing the

share of renewable energy in the country, says Raymond Carlsen, CEO of Scatec

Solar.

The project is realised under Ukraine's Feed-in-Tariff scheme and is expected to

deliver about 61 GWh per year. The Boguslav plant will be providing clean energy

for up to 27,000 households. Public land has been leased for an extended time-

period and the solar power plants are expected to deliver power also beyond the

Feed-in-tariff period.

With this project, Scatec Solar passes the milestone of 1.5 GW in operation

globally. In addition, a portfolio of 399 MW is under construction, of which

235 MW in Ukraine.

For further information, please contact:

Mikkel Tørud, CFO, tel: +47 976 99 144, [email protected]

(https://www.globenewswire.com/Tracker?data=_ktw5MrbO4W9IlNqiM-dhN-

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Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364,

[email protected] (https://www.globenewswire.com/Tracker?data=3wM9-

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About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable clean energy worldwide. A long-

term player, Scatec Solar develops, builds, owns, operates and maintains solar

power plants and has an installation track record of more than 1.6 GW. The

company has a total of 1.9 GW in operation and under construction on four

continents.

With an established global presence and a significant project pipeline, the

company is targeting a capacity of 4.5 GW in operation and under construction by

end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the

Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more,

visit www.scatecsolar.com (http://www.scatecsolar.com).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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