Scatec ASA

Capital/Financing Update • Jun 28, 2019

Scatec Solar reaches financial close for 55 MW solar power project in Ukraine

Scatec Solar reaches financial close for 55 MW solar power project in Ukraine

Oslo, 28 June 2019: Scatec Solar and partners have closed financing for the 55

MW Chigirin project in central Ukraine with a total investment of EUR 53

million.

The European Bank for Reconstruction and Development (EBRD), The Nordic

Environment Finance Corporation (NEFCO) and Swedfund have signed credit

agreements for the non-recourse debt financing of the project. The credit

facilities amount to EUR 37 million and covers up to 70% of the total project

costs.

Scatec Solar will be the lead equity investor in the project and is in the

process of securing additional equity partners for the project. The company will

also be the Engineering, Procurement and Construction (EPC) provider and provide

Operation & Maintenance as well as Asset Management services to the power plant.

Construction has started with expected commercial operation in first half 2020.

The project will be realised under Ukraine's 10-year Feed-in-Tariff scheme and

is expected to deliver about 65 GWh per year. The plant located in the Cherkasy

region in central Ukraine will be providing clean energy for up to 28,000

households and contribute to avoid more than 36,000 tonnes of carbon emissions

per annum.  Public land will be leased for an extended time-period and the solar

power plant is expected to deliver power also beyond the Feed-in-tariff period.

With this project Scatec Solar has 282 MW under construction and project backlog

of 123 MW in Ukraine. Globally Scatec Solar has 844 MW in operation and 1,016 MW

under construction, and a project backlog and pipeline of 4.6 GW.

For further information, please contact:

Mikkel Tørud, CFO

Tel: +47 976 99 144

mikkel.torud@scatecsolar.com (mailto:mikkel.torud@scatecsolar.com)

Ingrid Aarsnes, VP 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 GW. The company

has a total of 1.9 GW in operation and under construction in Argentina, Brazil,

the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South

Africa and Ukraine.

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

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act