Scatec ASA

Regulatory Filings • Sep 2, 2025

Scatec signs 15-year PPA for 130 MW solar plant in Colombia

Scatec signs 15-year PPA for 130 MW solar plant in Colombia

Oslo/Bogotá, 01 September 2025: Scatec ASA, a leading renewable energy solutions

provider, has signed a 15-year Power Purchase Agreement (PPA) with BTG Pactual

Comercializadora de Energía, a Colombian energy trading subsidiary of Banco BTG

Pactual S.A. Brazil (BTG). The PPA will cover approximately 85% of the estimated

production from a 130 MW solar plant, with the remaining production to be sold

in the Colombian electricity market. The PPA will be denominated in Colombian

Pesos and inflation adjusted based on Colombia's Producer Price Index.

With this award, Scatec will advance its first project in Colombia. The project

will be located in Nariño, just over 100 kilometres west of Bogotá. Colombia has

attractive market fundamentals, offering high irradiation, strong demand for

renewables and a supportive regulatory environment. Colombia is expected to add

more than 5 GW of solar capacity over the next five years.

"This agreement marks an important step for Scatec as we enter the Colombian

market with a commercially robust project. Colombia offers a solid framework for

renewable energy investments, and we are pleased to contribute to the country's

energy transition through our integrated business model," says Scatec CEO Terje

Pilskog.

The estimated total capital expenditure (capex) for the solar plant is USD 110

million, and Scatec will be the designated Engineering, Procurement and

Construction (EPC) provider with an EPC scope of approximately 80% of capex.

Scatec will further provide Operations & Maintenance (O&M) and Asset Management

(AM) services for the plant.

The project will be financed by non-recourse financing and equity, with Scatec

retaining majority ownership and Norfund joining as minority equity partner.

Scatec is in advanced negotiations with selected financial institutions for non-

recourse project financing, with a targeted leverage of 65%. Financial close and

construction start is expected in 2025.

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