Scatec ASA

Earnings Release • Oct 28, 2015

Scatec Solar ASA: Third quarter 2015 results - solid market outlook

Scatec Solar ASA: Third quarter 2015 results - solid market outlook

Oslo, October 28, 2015: Consolidated revenues reached NOK 204 million, up from

NOK 130 million in the same period last year and in line with the previous

quarter. Consolidated EBITDA reached NOK 159 million, up from NOK 79 million

last year and compared to NOK 146 million in the previous quarter. Power

production was lower than forecasted in South Africa, due to significantly lower

irradiation than expected based on historical weather data.

Scatec Solar develops, builds, owns and operates solar power plants. Scatec

Solar's proportionate share of cash flow to equity across these business

activities reached NOK 37 million in the third quarter 2015, up from NOK 30

million in the same period last year and down from NOK 71 million in the

previous quarter.

The 60 MW Agua Fria plant in Honduras was grid connected in the third quarter

and operating asset base reached gross 279 MW, all with 20-25 year fixed priced

power purchase agreements.

Scatec Solar now holds 344 MW in project backlog after securing the 53 MW Los

Prados project in Honduras and the sale of an 8 MW project on Hawaii. The

company has made good progress on development of projects in pipeline. The

project pipeline now stands at 1,287 MW (up 115 MW from last quarter) and

additional project opportunities of 2,300 MW (up 1,100 MW from last quarter) are

under development in Africa, Middle East, Americas and Asia.

"We have experienced an unusually bad winter in South Africa over the last few

months, but despite lower production, we continue to perform well in the third

quarter. We see a solid market outlook, and we are strengthening our project

pipeline and continue to convert MW's into backlog and further into

realization," says CEO Raymond Carlsen in Scatec Solar ASA.

For more details, please see attached the third quarter report and presentation.

A presentation of the results will be held today at 08.00 at Høyres Hus,

Stortingsgata 20, 0161 Oslo (new location). 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

raymond.carlsen@scatecsolar.com

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

mikkel.torud@scatecsolar.com

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 279 MW of solar power

plants in the Czech Republic, South Africa, Rwanda and Honduras. Construction of

additional 147 MW solar power plants in the USA and Jordan is under way.

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 and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'

To learn more, visit www.scatecsolar.com

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