Scatec ASA

Capital/Financing Update • Dec 21, 2018

Scatec Solar reaches financial close for another 30 MW in Ukraine

Scatec Solar reaches financial close for another 30 MW in Ukraine

Oslo, 21 December 2018: Scatec Solar and partners have closed financing for the

30 MW Kamianka project in the Cherkassy region in central Ukraine with a total

investment of EUR 35 million.

The European Bank for Reconstruction and Development (EBRD) and FMO, the Dutch

development bank have signed credit agreements for the non-recourse debt

financing of the project. The credit facilities amount to EUR 24.5 million and

covers 70% of the total project costs.

Scatec Solar will be the lead equity investor in the project and is in the

process of securing additional equity partners for the project. The company will

also be the Engineering, Procurement and Construction (EPC) provider and provide

Operation & Maintenance as well as Asset Management services to the power plant.

Construction is starting early 2019 with commercial operation in fourth quarter

The project will be realised under the country's 10-year Feed-in-Tariff scheme

and are expected to produce about 39 GWh per year. Public land will be leased

for an extended time-period and the solar power plant is expected to deliver

power also beyond the Feed-in-tariff period.

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For further information, please contact:

Mikkel Tørud, CFO                  tel: +47 976 99 144

mikkel.torud@scatecsolar.com

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Ingrid Aarsnes, Communication & IR  tel: +47 950 38 364

ingrid.aarsnes@scatecsolar.com

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About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable clean energy worldwide. A long-

term player, Scatec Solar develops, builds, owns, operates and maintains solar

power plants and has an installation track record of more than 1 GW. The company

has a total of 1.5 GW in operation and under construction in Argentina, Brazil,

the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South

Africa and Ukraine.

With an established global presence and a significant project pipeline, the

company is targeting a capacity of 3.5 GW in operation and under construction by

end of 2021. 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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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act