Scatec ASA

Earnings Release • Oct 19, 2018

Scatec Solar ASA:Third quarter 2018 results - high construction activity and increased backlog

Scatec Solar ASA:Third quarter 2018 results - high construction activity and increased backlog

Oslo, 19 October 2018: Scatec Solar ASA reported third quarter proportionate

revenues of NOK 1,299 million (NOK 924 million in third quarter 2017), and

EBITDA reached NOK 266 million (500).

The revenues increased by 40% compared to the same quarter last year, reflecting

high construction activities. Construction is ongoing for 1.1 GW of new solar

plants in five countries, resulting in D&C revenues of NOK 1,077 million (760)

and EBITDA of NOK 130 million (384) in the third quarter. The EBITDA in the

third quarter 2017 included a gain of NOK 375 million from the partial sale of

the Apodi project in Brazil. Revenues and profit­ability in the other business

segments remain fairly stable.

"Our third quarter results reflect high activity and a good progress on

realising our project portfolio. We are very pleased to have completed our

second solar plant in Honduras in the quarter and other projects are nearing

completion. We have secured another 121 MW in Ukraine, supporting our continued

successful conversion of project pipeline to backlog,says Raymond Carlsen, CEO

of Scatec Solar.

Scatec Solar's third quarter consolidated revenues reached NOK 294 million

(655), and EBITDA reached NOK 221 million (595).

For further details, please see the attached third quarter report and

presentation.

A presentation of the results will be held today at 08.00 (CET) at Høyres Hus,

Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can also be

followed through a live webcast from our website www.scatecsolar.com/investor.

For further information, please contact:

Mr. Raymond Carlsen, CEO,          tel: +47 454 11 280

raymond.carlsen@scatecsolar.com

Mr. Mikkel Tørud, CFO,                  tel: +47 976 99 144

mikkel.torud@scatecsolar.com

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

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 1,000 MW. The company is

producing electricity from 357 MW of solar power plants in the Czech Republic,

South Africa, Rwanda, Honduras and Jordan and has 1,057 MW under construction.

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.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.