Scatec ASA

Scatec Solar sells the 104 MW Utah Red Hills solar plant

October 3, 2016: Scatec Solar ASA (SSO) has entered into an agreement for sale

of 100% of the sponsor equity in the 104 MW (DC) Utah Red Hills solar power

plant with MIC Renewable Energy Holdings LLC, owned by Macquarie Infrastructure

Corporation (NYSE; MIC).

"We have over the last six months conducted a broad sales process. This

transaction confirms the solid underlying value of Scatec Solar's assets and we

will redeploy the capital into new and attractive growth markets. We are

actively pursuing a growth strategy with a clear-cut focus on developing

utility-scale solar plants in emerging markets" says Raymond Carlsen, CEO of

Scatec Solar.

The sale is expected to generate gross proceeds to Scatec Solar of USD 28

million. The proceeds are subject to further working capital adjustments at

closing. The consolidated book value of Scatec Solar's sponsor equity in the

project company is USD 21 million while the total balance sheet value is USD

137 million including project finance debt.

Prior to this transaction, Scatec Solar held 426 MW of large scale solar plants

in operation. In addition to this, the company has a backlog of projects with

secured long-term off-take agreements of 422 MW and in addition to a pipeline of

about 1.2 GW globally.

The transaction is subject to approval by the Federal Energy Regulatory

Commission and other customary closing conditions and is expected to close

before the end of 2016.

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 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.

The company is producing electricity from 426 MW of solar power plants in the

Czech Republic, South Africa, Rwanda, Honduras, Jordan and the United States.

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

project backlog and pipeline of close to 1.6 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'.

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