Scatec ASA

Scatec Solar secures project financing for USD 125 million investment in the 60 MW Agua Fria solar plant in Honduras

Oslo, December 29, 2014: Scatec Solar ASA ('SSO'), the integrated independent

solar power producer, has together with its partners entered into financing

agreements totalling about USD 90 million for construction of the 60 MW Agua

Fria solar power plant in Honduras. Total investment for the plant is estimated

to USD 125 million.

Scatec Solar will construct the plant and in addition provide operation and

maintenance services when the plant is in operation.

"Realisation of the Agua Fria project is an important milestone for us,

representing our first step into the very promising Latin American solar

market", says Scatec Solar CEO Raymond Carlsen.

Scatec Solar will own 40 percent of the power plant, while Norwegian Norfund/KLP

and the local project developer PEMSA each will hold 30 percent. Construction of

the facility will start immediately and the plant is expected to be in operation

in the second half of 2015.

Annual production from the power plant is estimated to 100,000 MWh, and the

electricity produced will be sold under a twenty-year Power Purchase Agreement

(PPA) with the utility Empresa Nacional de Energia Electricia (ENEE). The

ground-mounted photovoltaic solar facility will deploy approximately 200,000 PV

modules on a fixed tilt system and will interconnect to an existing transmission

line.

Export Credit Norway (Eksportfinans), The Norwegian Export Credit Guarantee

Agency (GIEK) and Corporación Interamericana para el Financiamiento de

Infraestructura, S.A. (CIFI) will provide the debt for the project.

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 power producer, aiming to make solar a

sustainable and affordable source of energy worldwide. Scatec Solar develops,

builds, owns and operates solar power plants, and will in 2014 deliver power

from 220 MW in the Czech Republic, South Africa and Rwanda. The company is in

strong growth and has a solid pipeline of projects under development in Africa,

US, Asia, Middle East and Europe. Scatec Solar is headquartered in Oslo, Norway

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

For more information on Scatec Solar, please visit our home page

www.scatecsolar.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1883654]

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