Scatec ASA

Earnings Release • Dec 10, 2025

Scatec starts commercial operation at Mmadinare phase 2 in Botswana

Scatec starts commercial operation at Mmadinare phase 2 in Botswana

Oslo/Cape Town, 10 December 2025: Scatec ASA, a leading renewable energy

provider, has started commercial operation of the second 60 MW phase of the 120

MW Mmadinare Solar Cluster in Botswana.

The Mmadinare Solar Cluster is Scatec's first project portfolio in Botswana,

where the first phase has been operational since March this year. The power

plant will generate predictable revenues from a 25-year power purchase agreement

(PPA) with Botswana Power Corporation, the national utility. Scatec owns 100% of

the project portfolio, but expects to reduce its long-term economic interest by

inviting additional equity partners.

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

portfolio within budget and ahead of schedule, reinforcing our commitment to

advancing renewable energy in the region. This is an important first step for

Botswana, that holds a significant potential for deployment of competitive and

reliable renewable energy to support economic development," says Terje Pilskog,

CEO Scatec.

"As Botswana accelerates its renewable energy transition, this milestone

represents an important moment for the country and region. Solar power is

increasingly central to powering communities and driving sustainable growth. We

are honoured to operate the country's first utility scale solar PV facility -

and contribute to Botswana's long term energy ambitions." says Alberto

Gambacorta, EVP and GM for Sub-Saharan Africa.

Together, the two power plants are expected to generate 280 GWh of clean energy

annually, leading to an estimated abatement of 380,000 tonnes of CO2 emissions.

Scatec will provide Operation & Maintenance and Asset Management services to the

power plants.

For further information, please contact:

For analysts and investors:

Andreas Austrell, SVP 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 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

(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