Scatec ASA

Scatec Solar secures 47 MW in Ukraine

Oslo, July 4, 2018: Scatec Solar has entered into agreements with Rengy

Development securing projects with capacity of 47 MW in the Mykolaiv region in

the south of Ukraine.

The projects will be realized under the country's Feed-in-Tariff scheme and the

three plants are expected to produce about 58 GWh per year. Public land will be

leased for an extended time-period and the plants are expected to deliver power

also beyond the 10-year Feed-in-tariff period.

Rengy Development is one of the largest developers and independent solar power

producers in Ukraine. It was established in 2009 and has to date developed,

built and commissioned a 70 MW portfolio of solar power plants in Ukraine.

Total capex for the projects is estimated to Euro 52 million. The project

finance process has been initiated with the European Bank of Reconstruction and

Development (EBRD) in lead. Financial close and construction start is expected

later in 2018 with commercial operation during 2019.

"We are very happy to partner with a strong local player as Rengy Development to

further strengthen our position in Ukraine. Rengy Development brings a solid

track record in solar in Ukraine to the project ensuring efficient realization.

We see continued strong commitment by the Ukrainian government to secure growth

of clean energy in the country", says CEO Raymond Carlsen who signed the

agreement and visited Kiev this week.

Scatec Solar will own 51% of the projects and Rengy Development will own the

balance. 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.

With this agreement Scatec Solar has so far secured 130 MW of projects under the

Feed-in-Tariff scheme in Ukraine.

For further information, please contact:

Mr. Mikkel Tørud, CFO, tel

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 322 MW of solar power plants in the

Czech Republic, South Africa, Rwanda, Honduras and Jordan and has 1,092 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

AI Terminal