Scatec ASA

Scatec Solar Capital Markets Update: Accelerating growth - targeting 3.5 GW by end 2021

Oslo, 30 May 2018: Scatec Solar ASA is today hosting a Capital Markets Update,

where management presents its accelerated growth ambitions towards 2021.

The highlights are:

* Setting a new growth target of 2 GW, bringing total capacity above 3.5 GW by

end 2021

* 20-25 years annual cash flow from 3.5 GW of operating power plants is

expected to reach NOK 750-850 million (15% post tax equity IRR)

* Development & Construction net contribution of NOK 2.0-2.5 billion (12-15%

gross margin)

"This year, we deliver on our 1.5 GW growth target, and we now move forward

with a target of more than doubling installed capacity by end 2021. Execution of

the existing portfolio together with new growth - primarily through new large-

scale PV opportunities - are the main building blocks of our growth plans", says

Raymond Carlsen, CEO of Scatec Solar ASA.

He continues: "In addition, there are attractive opportunities for Scatec Solar

within the market for corporate PPAs and hybrid solutions, as market develops

and we are broadening our commercial and technological scope. As our business is

rapidly expanding we also see opportunities to further enhance value of our

asset portfolio through debt refinancing and asset rotation".

The Capital Markets Update event will be held at CET 09:30 - 12:30 at Oslo

Konserthus, Munkedamsveien 14, Oslo. The program includes presentations by the

executive management in Scatec Solar.

A live webcast of the presentations will be available on our website

www.scatecsolar.com/investor. The presentation material is attached to this

notice and is also available for download on our webpage.

Contact person

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, the company has project

backlog and pipeline of 4.0 GW under development in the Americas, Africa, Asia

and the Middle East.

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

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