Scatec ASA — Earnings Release 2025

Mar 12, 2025

Scatec starts commercial operation of solar power plant in Botswana

Scatec starts commercial operation of solar power plant in Botswana

Oslo/Cape Town, 12 March 2025: Scatec ASA, a leading renewable energy provider,

has started commercial operation of the first 60 MW of the 120 MW Mmadinare

Solar Cluster in Botswana.

The power plant is Scatec's first in Botswana and will generate predictable

revenues from a 25-year power purchase agreement (PPA) with Botswana Power

Corporation, the national utility. The remaining 60 MW of the project is

currently under construction and is expected to be completed in the beginning of

2026. Scatec owns 100% of the project and is aiming to reduce its long-term

economic interest by inviting additional equity partners.

"We are very proud to achieve COD for the first phase of the solar power plant

within budget, reinforcing our commitment to advancing renewable energy in the

region," says Terje Pilskog, CEO Scatec.

"Moving from development to construction and now to commercial operation has

been highly rewarding. We are now ramping up construction of the second phase

and look forward to its completion in the beginning of next year," says Alberto

Gambacorta, Scatec's EVP of Sub-Saharan Africa.

For further information, please contact:

For analysts and investors:

Andreas Austrell, VP IR

andreas.austrell@scatec.com (mailto:andreas.austrell@scatec.com)

+47 974 38 686

For media:

Meera Bhatia, SVP External Affairs & Communications

meera.bhatia@scatec.com (mailto:meera.bhatia@scatec.com)

+47 468 44 959

About Scatec

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

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

develop, build, own, and operate renewable energy plants, with 4.8 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

(http://www.scatec.com/) or connect with us on LinkedIn

(https://www.linkedin.com/company/scatec/).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act