Scatec ASA

Second quarter results - ready to harvest project backlog

Oslo, July 21, 2017: Scatec Solar's second quarter consolidated revenues reached

NOK 279 million, up from 213 million in the same period last year. Consolidated

EBITDA reached NOK 217 million, up from NOK 153 million last year. The year on

year increase in revenues and EBITDA is mainly explained by better solar

irradiation, additional revenues from the new plants in Jordan and a

strengthening of ZAR/NOK of 17%.

Scatec Solar's proportionate share of revenues reached NOK 165 million, down

from 437 million in the same period last year. The proportionate EBITDA reached

NOK 100 million in line with the same period last year. Cash flow to equity

across all business activities reached NOK 20 million in the second quarter,

compared to NOK 31 million in the same period last year.

Power production reached 147 GWh in the second quarter, up 24% from same quarter

last year, excluding divestments, and down 6% from previous quarter due to

seasonally lower production in South Africa.

"We have made significant progress on the 1,143 MW project backlog over the last

few months and several projects are approaching financial close. With these

projects, we are set to strengthen our position as a leading emerging market

focused IPP. With technology innovation and cost reductions in the industry we

are exploring additional partnerships and new business models that will allow us

to add to our growth opportunities ", says Scatec Solar's CEO, Raymond Carlsen.

For more details, please see attached the second quarter report and

presentation.

A presentation of the results will be held today at 08.00 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:

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 600 MW.

The company is producing electricity from 322 MW of solar power plants in the

Czech Republic, South Africa, Rwanda, Honduras and Jordan. With an established

global presence, the company is growing briskly with a project backlog and

pipeline of 1.8 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

AI Terminal