Scatec ASA

Scatec Solar increases backlog in Ukraine

Oslo, October 18, 2018: Scatec Solar has secured two new projects with a total

capacity of 121 MW in Ukraine.

The projects will be realised under the country's Feed-in-Tariff (FiT) scheme

and the solar power plants are expected to produce about 155,000 MWh per year in

total. Land will be leased for an extended time-period from local municipalities

and the plants are expected to deliver power also beyond the 10-year FiT period.

Total capex for the projects is estimated to EUR 137 million. Grid connection of

the plants is expected towards the end of 2019.

"We are pleased to secure these two new projects in Ukraine as the next step in

developing a larger portfolio of solar power plants in the country. Together

with our partners, we continue to promote renewables in this growing market,"

says Raymond Carlsen CEO of Scatec Solar.

Scatec Solar will be the lead equity investor in the projects and is targeting

to secure additional equity partners. Scatec Solar will be the Engineering,

Procurement and Construction (EPC) provider and provide Operation & Maintenance

as well as Asset Management services to the power plants.

During 2018, Scatec Solar has secured projects with a total capacity of 251 MW

in Ukraine and a total annual production of about 320,000 MWh.

For further information, please contact:

Ingrid Aarsnes, VP Communication & IR

Tel: +47 950 38 364, [email protected]

Mikkel Tørud, CFO

Tel: +47 976 99 144, [email protected]

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 1,000 MW. The company is

producing electricity from 357 MW of solar power plants in the Czech Republic,

South Africa, Rwanda, Honduras and Jordan and has 1,057 MW under construction.

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.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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