Scatec ASA

Scatec Solar closes financing for the 47 MW Redsol project in Malaysia

Oslo, 21 December 2018: Scatec Solar and partners have closed financing for the

47 MWp Redsol project in Northwest Malaysia with a total investment of

approximately USD 47 million. BNP Paribas will provide the non-recourse project

finance facility for the project, covering 73% of the project cost.

The solar power plant is expected to deliver 67 GWh of electricity per year with

annual revenues of approximately USD 6 million. The project is being realised in

a consortium with Fumase (Malaysia) Sdn Bhd, a US- and Malaysia-based asset

management and development company focused on renewable energy in South and

Southeast Asia. The Redsol project was awarded under Malaysia's second large

scale solar tender round in December 2017 and will be Scatec Solar's fourth

solar power plant in the country.

"With this project we continue to strengthen our position as the leading solar

IPP in Malaysia and as a long-term partner to meet the country's renewable

energy targets", says Raymond Carlsen, CEO of Scatec Solar.

Scatec Solar will provide 100% of the project's equity. In addition, the company

is turn-key EPC provider and will be providing Operation & Maintenance as well

as Asset Management services to the power plant. Construction will start

imminently with grid connection expected in fourth quarter 2019.

For further information, please contact:

Mikkel Tørud, CFO tel: +47 976 99 144

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

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 1.5 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

AI Terminal