Scatec ASA

Regulatory Filings • Oct 16, 2025

Release by Scatec secures additional lease agreements in Africa 

Release by Scatec secures additional lease agreements in Africa

Oslo/Washington DC, 16 October 2025: Release by Scatec, majority owned by Scatec

ASA has signed new lease agreements totalling 64 MW of solar power and 10 MWh of

battery storage across Liberia and Sierra Leone.

"These agreements mark a significant step in strengthening our renewable energy

presence and delivering flexible, modular "lease-to-own" solutions to utilities

in Sub-Saharan Africa. The projects are designed to replace expensive fossil

fuel generation, improve grid reliability, and support local economic

development," says Scatec CEO and Chairman of Release, Terje Pilskog.

Release receives support from the World Bank's IFC through a USD 100 million

loan and a USD 65 million guarantee facility, established in 2023, securing

payment obligations from Release's clients. This partnership enables Release to

offer affordable, clean power to African utilities with reduced financial risk,

simplifying renewable energy adoption.

In Liberia, Release has entered into a 15-year lease agreement with the state-

owned Liberia Electricity Corporation (LEC) for the development of a 24 MW solar

plant combined with a 10 MWh battery energy storage system (BESS) in Duazon,

near Monrovia. Release also secured a 40 MW solar project in Sierra Leone

through a lease agreement with the national utility EGTC and the Ministry of

Energy.

These two projects will be the first projects where Release will use its newly

introduced solar panel mounting structure designed by its engineering team in

South Africa, representing a milestone for the company and marking a start to a

new way of delivering its projects.

Release is owned by?Scatec (68%) and Climate Fund Managers

(https://climatefundmanagers.com/) (CFM) (32%) via its EU-supported Climate

Investor One Fund, a USD 1 billion blended finance facility focused on renewable

energy infrastructure in emerging markets.

For further information, please contact:

For analysts and investors:

Andreas Austrell, SVP IR

andreas.austrell@scatec.com

(https://www.globenewswire.com/Tracker?data=HY1Mq3nOTdLxpSmk67MxvB1dRpgRHzr18nOE

10274P1tvcu19Gya32kgnouAubKZOw1WFiruEvlM1kfezwM7h-NAuknOzIVKg-tE0mXqPJO-

VS0GamEbLjDaCOMn6wcL)+47 974 38 686

For media:

Meera Bhatia, SVP External Affairs & Communications

meera.bhatia@scatec.com (https://www.globenewswire.com/Tracker?data=LbxWRQmOo-

9fH5UlnuM1jDNcoZ8lVnUjhhiBqllk2cuVofHfq0_A5WJcxOBQ3a4lR_cAcFfYcFGBRctGTdZVYm94HQ

D1QXUrpzTkYawJjDe59jFlBHg3Va4Tw4AAvqTI)

+47 468 44 959

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy in emerging markets. As a long-term player,

we develop, build, own, and operate renewable energy plants, with 6.2 GW in

operation and under construction across five continents today. We are committed

to growing our renewable energy capacity, delivered by our passionate employees

and partners who are driven by a common vision of 'Improving our Future'. Scatec

is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the

ticker symbol 'SCATC'. To learn more, visit www.scatec.com

(https://www.globenewswire.com/Tracker?data=ZWXfz4dGotzh1PmLi7WN98xKWkDiatZqrFEF

sVykMOM7gOkmefCeT-OjJKSaVw3gHI9ZJSjWluxNWaz6d5wU1A==) or connect with us

on LinkedIn (https://www.globenewswire.com/Tracker?data=Ea6mDursQq_yqFunjGD089N-

TB0C0FOk6KCvnyPtCe_2-XerKXciIVozbm94Bbfl_c6xnxXzwaGn-

PGEJD4erkeXTBSiNHoPO90MalHmVas=).

About Release

Designed to overcome financial and technical barriers associated with adopting

solar energy, Release is a flexible leasing agreement of pre-assembled solar PV

and battery equipment to deliver a low cost, clean, and reliable power solution.

About Release - Release by Scatec (https://releasesolar.com/about-release/)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act