Scatec ASA

Regulatory Filings • Dec 11, 2015

Scatec Solar Completes Utah's First Utility-Scale 104 MW Solar Plant

Scatec Solar Completes Utah's First Utility-Scale 104 MW Solar Plant

Oslo, Norway, December 11, 2015: Scatec Solar ASA ('SSO'), the integrated

independent solar power producer, has now formally commissioned the 104 MW (dc)

photovoltaic solar plant in Parowan, Utah. The Utah Red Hills Renewable Park

(URHRP) is Utah's first utility-scale solar plant and will more than double the

state's current solar footprint.  The plant was commissioned on schedule and

constructed in less than a year.

When the plant is fully operational within a week after the commissioning, it

will generate around 210 million kilowatt hours (kWh) of electricity per year,

equivalent to the electric power used by approximately 18,500 homes annually, to

be fed into the grid under a twenty-year Power Purchase Agreement (PPA) with

PacifiCorp's Rocky Mountain Power, according to the utility's obligation under

the federal Public Utility Regulatory Policies Act (PURPA).

"We want to thank Scatec Solar because this experience has helped Rocky Mountain

Power learn what works to help other solar projects that will be starting up

soon here in Utah," said Paul Clements, Rocky Mountain Power Director of

Commercial Services. "This project is part of Rocky Mountain Power's commitment

to be good guardians of our environment and wise stewards who work to keep

electricity prices at some of the lowest rates in the nation."

"The commissioning of the Utah plant is a significant landmark for Scatec Solar.

The fact that we were able to build this 104 MW plant within 12 months is the

proof of our company's capability to deploy solar power rapidly. The Utah plant

also underlines the importance of delivering results and choosing partners whose

core values match our own - in this case, Swinerton, Google and Prudential

Capital Group. That our company is able to realize solar plants simultaneously

in different continents is a tremendous tribute to our tireless and dedicated

team" says Raymond Carlsen, CEO of Scatec Solar ASA.

With its sunny days and cool temperatures, Utah is one of the top seven states

in the United States with the greatest potential solar capacity. In 2008, Utah

enacted the Energy Resource and Carbon Emission Reduction Initiative, setting a

renewable portfolio goal of 20 percent by 2025, requiring utilities to pursue

renewable energy to the extent that it is cost-effective to do so. With the Red

Hills project, Utah is the first state to build a solar plant greater than 80MW

(ac) without a more aggressive Renewable Portfolio Standard.

Scatec Solar has been publicly recognized for its role in pioneering utility-

scale solar in Utah.  Utah Clean Energy recently named Scatec Solar its 2015

Clean Energy MVP for the company's contributions to advancing clean energy

solutions in Utah and the West.  Specifically, the company was honored for its

role in enabling Utah's first utility-scale solar plant and for helping lead the

way to enable nearly a gigawatt of renewable energy projects in Utah.  The team

is currently developing a second 80 MW (ac) photovoltaic solar plant in Iron

County, Utah-the Three Peaks Power Plant.

"We are very proud of our role in advancing solar energy in Utah-a state with

such excellent solar potential," said Luigi Resta, CEO, Scatec Solar North

America. "Utah Red Hills Renewable Park-the state's first utility-scale solar

plant-and other projects in our pipeline represent a huge step forward in

bringing the sun's clean, sustainable energy to more Utahns."

Total investment for the plant has been estimated at USD 188 million-with Google

providing tax equity, Prudential Capital Group providing debt financing, and

Scatec Solar providing sponsor equity. The power plant will be wholly-owned by a

partnership jointly owned by Google and Scatec Solar. Scatec Solar will manage

and operate the plant.

"We are pleased to join Scatec Solar and Prudential in bringing solar energy to

the state of Utah.  We hope that projects like these will encourage the

development of additional renewable energy throughout the state," said Nicolas

Coons, Google's Head of Renewable Energy Investments, Developed Markets /

Technologies.

"We are excited to be part of this solar transaction and have enjoyed working

with Scatec Solar and Google," said Ric Abel, managing director with Prudential

Capital Group's Energy Finance Group - Power.

Scatec Solar engaged Swinerton Renewable Energy to lead Engineering, Procurement

and Construction of the ground-mounted photovoltaic solar facility that

interconnects to an existing transmission line. The plant was built on

approximately 632 acres of privately-owned land in Parowan, Utah, deployed more

than 340,000 PV solar modules on a single-axis tracking system.

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.

The company is producing electricity from 383 MW of solar power plants in the

Czech Republic, South Africa, Rwanda, Honduras and the United States.

Construction of an additional 43 MW solar power plants in Jordan is under way.

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

project backlog and pipeline of close to 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'.

For more on Scatec Solar, please visit our home page www.scatecsolar.com

For more information, please contact

In Norway:

Mikkel Tørud, +47 976 99144,  mikkel.torud@scatecsolar.com

In the US:

Anna Gemolas,  +1 301 751 2911,  anna.gemolas@gmail.com

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