Scatec ASA

Regulatory Filings • Dec 21, 2018

Scatec Solar starts construction of 117 MW solar project in Argentina

Scatec Solar starts construction of 117 MW solar project in Argentina

Oslo, 21 December 2018: Scatec Solar and Equinor have started construction of

the Guanizuil IIA solar plant located in the Province of San Juan in the

northwest of Argentina utilising the agreed Equinor bridge loan facility. Late

November 2018, the partners signed the 20-year power purchase agreement (PPA)

for delivery of electricity from the 117 MW solar power plant with CAMMESA, the

Argentinian Wholesale Power Market Administrator. This is in line with the

project announcement made 19 June 2018.

"We are pleased to have reached these significant milestones for our first

project in Argentina. The project is ramping up activities according to plans

with expected commercial operation by year-end 2019", says Raymond Carlsen CEO

of Scatec Solar.

Total capital expenditure to realise the plant is estimated at USD 103 million

and the plant will be owned 50% by Scatec Solar and 50% by Equinor. The power

plant is expected to produce about 308,000 MWh of electricity annually providing

electricity to 80,000 households.

Scatec Solar will be project lead in a jointly owned construction company while

Equinor will provide a construction bridge loan covering 60% of the capex

required for the project. The project company will source all major components

to the project directly. The partners have started a process to secure suitable

long-term project financing to the project.

With the Guanizuil IIA plant in construction, Scatec Solar has a total of 877 MW

under construction and 584 MW in operation.

For further information, please contact:

Mikkel Tørud, CFO                  tel: +47 976 99 144

mikkel.torud@scatecsolar.com

(https://www.globenewswire.com/Tracker?data=E_Jt2jG5nVQdnTfO8eYXDzG-

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3A_TChrQmYIXop_Nwa69HqOX)

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

ingrid.aarsnes@scatecsolar.com

(https://www.globenewswire.com/Tracker?data=t2U70ym1HU-

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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 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