Scatec ASA

Scatec Solar secures a 53 MW solar project in Honduras

Oslo, October 28, 2015: Scatec Solar and Norfund have signed a share purchase

agreement to acquire the 53 MW Los Prados solar project in Honduras. The project

have secured a 20-year Power Purchase Agreement (PPA) with Empresa nacional de

Energía Eléctrica (ENEE), the government-owned utility. Located in the southern

Choluteca region close to the Pacific coast, the solar power plant is expected

to provide about 110,000 MWh annually to the grid, generating revenues of about

USD 15 million per year.

"With this new project, we are further strengthening our position in the

Honduran and Latin American solar market. It is great that we can build on the

60 MW Agua Fria project to execute another 53 MW in the country." said Raymond

Carlsen, CEO of Scatec Solar.

Scatec Solar ASA will build, own and operate the power plant. The equity will be

owned 70 percent by Scatec Solar and 30 percent by Norfund. Total capital

expenditure is estimated to USD 100 million and will be funded by 75 percent

non-recourse project finance debt. Project financing is expected to be provided

by the Central American Bank of Economic Integration (CABEI) and Export Credit

Norway with guarantee from the Norwegian Export Credit Guarantee Institute.

Financial close is expected in early 2016. Certain construction activities will

start immediately while grid connection of the plant is expected in the third

quarter 2016.

For further information, please contact:

Mr. Raymond Carlsen, CEO, tel: +47 454 11 280, [email protected]

Mr. Mikkel Tørud, CFO, tel: +47 97699 144, [email protected]

About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable source of clean energy worldwide.

A long term player, Scatec Solar develops, builds, owns, operates and maintains

solar power plants, and already has an installation track record of close to

600 MW.

Currently, the company is producing electricity from 279 MW of solar power

plants in the Czech Republic, South Africa, Rwanda and Honduras. Construction of

additional 147 MW solar power plants in the USA and Jordan is under way.

With an established global presence, the company is growing briskly with a

project backlog and pipeline of more than 1.5 GW under development in the

Americas, Africa, Asia and the Middle East. 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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