Scatec ASA

Second quarter 2018 results - ramping up construction and increasing backlog and pipeline

Oslo, July 20, 2018: Scatec Solar ASA reported second quarter proportionate

revenues of NOK 1,299 million (NOK 167 million in second quarter 2017), and

EBITDA reached NOK 266 million (100).

The increase in proportionate revenues and EBITDA is reflecting a significant

step up in construction activities compared to last year. Construction continues

for 1.1 GW of solar power plants in Malaysia, Brazil, Honduras, Mozambique and

construction activities have just commenced in Egypt and South Africa. The high

level of activity lead to D&C revenues of NOK 1,045 million (0) and EBITDA of

NOK 140 million (-18) in the quarter. Gross NOK 600 million of equity was raised

in June to fund further growth of the company.

"We are very pleased to report significant increase in construction activities

and solid financial results in the quarter. We have secured 117 MW in Argentina

and 130 MW in Ukraine in the quarter and total project backlog and pipeline

increased to 4.5 GW. We continue to see attractive market opportunities with a

target of reaching a capacity of 3.5 GW by end of 2021", says CEO Raymond

Carlsen.

Scatec Solar's second quarter consolidated revenues reached NOK 286 million

(279), and EBITDA reached NOK 212 million (217).

For further details, please see attached the second 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

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

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 322 MW of solar power plants in the Czech Republic,

South Africa, Rwanda, Honduras and Jordan and has 1,092 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

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