Scatec ASA

Investor Presentation • Sep 18, 2019

Scatec Solar raises growth target – installed capacity of 4.5 GW by 2021  

Scatec Solar raises growth target – installed capacity of 4.5 GW by 2021

Oslo, 18 September 2019: Scatec Solar is hosting a Capital Markets Update in

Oslo today, presenting the company's expanded platform for increased growth.

Scatec Solar's growth target is raised by 1 GW to 4.5 GW in operation and under

construction by end 2021. Additionally, a new target for annual growth of 1.5+

GW from 2022 and onwards is introduced.

"We are raising our growth ambitions, driven by a strong solar market and a

steadily increasing pipeline of high quality projects. Solar is the lowest cost

source of energy across sun-rich regions, and with renewables expected to

provide 50% of all power globally by 2050, we will continue to support

goverments and corporates in making the shift to renewable energy", says Raymond

Carlsen, CEO of Scatec Solar.

Scatec Solar develops, builds, owns and operates solar plants across emerging

markets. Since the company's last Capital Markets Update in May 2018, the

project backlog and pipeline has grown from 3.9 GW to 5.6 GW. In the same

period, EBITDA is up by 30%, mainly driven by a significant increase in power

production from a growing asset base and contribution from development and

construction of new plants.

"Our strategic direction remains unchanged. We aim to continue delivering strong

growth and shareholder value through securing growth in priority regions,

effective project execution, and broadening our commercial and technological

scope", says Carlsen.

He highlights the launch of Release as an example of the latter.

"Release is a reliable and flexible solution, offering pre-assembled and

redeployable smaller scale solar plants. We are making renewable energy both

affordable and attractive to a whole new segment of industrial clients in

emerging markets. While utlity scale solar remains the backbone of our business,

we are further expanding our platform for increased growth in the coming years

with Release and other new initiatives", says Carlsen.

Scatec Solar operates in 13 countries globally and sustainability is an

integrated part of our business wherever we operate. Through community

development programmes within areas like health, education and energy, the

company strives to make positive contributions to local value creation.

"Sustainability is good business, as it ensures stable operations and gives us

access to solid financing partners. I strongly believe that our ability to

manage risk in complex environments and create lasting footprints in our local

communities are key competitive advantages", says Carlsen.

The Capital Markets Update event will be held today at Oslo Konserthus (Lille

Sal), Munkedamsveien 14, Oslo from 09:00 am to 11:30.

The presentations can be downloaded from www.scatecsolar.com

(http://www.scatecsolar.com) and the link below. The full presentation and Q&A

session can also be followed through a live webcast

from: https://webtv.hegnar.no/presentation.php?webcastId=98092435

For further information, please contact:

Mikkel Tørud, CFO

tel: +47 976 99 144

mikkel.torud@scatecsolar.com

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Ingrid Aarsnes, Communication & IR

tel: +47 950 38 364

ingrid.aarsnes@scatecsolar.com (mailto:ingrid.aarsnes@scatecsolar.com)

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 1.3 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 3.5 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

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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act