Scatec ASA

M&A Activity • Dec 13, 2017

Scatec Solar secures a 40 MW PV project in Malaysia

Scatec Solar secures a 40 MW PV project in Malaysia

Oslo, December 13, 2017: Scatec Solar ASA (SSO) and partners have won a 40 MW DC

(30 MW AC) PV project in a tender held by the Energy Commission in Malaysia.

The power plant, located in the state of Perak in Northwest Malaysia, is

expected to deliver 65 GWh of electricity per year with annual revenues of

approximately USD 6 million.  Work has started to secure project finance from

commercial banks in Malaysia and capex is estimated to USD 50 million.

Scatec Solar will be an equity partner, turn-key EPC provider and provide

Operation & Maintenance as well as Asset Management services to the power plant.

Construction start is expected in 2H 2018 with grid connection in second half of

The project will be realized together with Fumase, a US- and Malaysia-based

asset management and development company focused on renewable energy in South

and Southeast Asia.

"Malaysia is an attractive solar market, and our success in this tender

showcases our ability to develop competitive projects in the country, and

further highlights Scatec Solar's position as a leading PV player in Southeast

Asia", says CEO Raymond Carlsen.

For more information please contact:

Raymond Carlsen, CEO

Mobile: + 47 454 11 280

Mikkel Tørud, CFO

Mobile: +47 976 99 144

About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable source of clean energy worldwide.

A long term player, Scatec Solar develops, builds, owns, operates and maintains

solar power plants, and already has an installation track record of close to

600 MW.

Currently, the company is producing electricity from 322 MW of solar power

plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and

another 394 MW are under construction.

With an established global presence, the company is growing briskly with a

project backlog and pipeline of more than 1.5 GW under development in the

Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in

Oslo, Norway.