First part of Scatec Solar’s 400 MW solar power plant in Egypt in commercial operation

Oslo, 11 April 2019: Scatec Solar and partners have grid connected and reached commercial operation for 65 MW of their 400 MW Benban project in Egypt. The Benban solar power plant is Scatec Solar’s largest project under construction, and the Company is the largest contributor to the 1.5 GW Benban site – the world’s largest solar park.

We have been a pioneer in Egypt since 2013 and have worked closely with the Government to support implementation of large-scale solar to increase the country’s share of renewable energy. Grid connecting our first solar power plant marks a major milestone for us. This is also our first power plant with bi-facial solar panels, capturing the sun from both sides of the panels to increase the total clean energy generation”, says Raymond Carlsen, CEO of Scatec Solar.

In April 2017, Scatec Solar with its partners KLP Norfund and Africa 50 signed a 25-year Power Purchase Agreements with the Government of Egypt for delivery of electricity from six solar plants, equal in size, totaling 400 MW. The estimated annual 870 GWh of electricity produced from Scatec Solar’s plants in Benban will avoid about 350,000 tons of CO2 emissions per year and provide energy for more than 420,000 households in Egypt. Scatec Solar expects to have completed all six power plants during second half of 2019.

For further information, please contact:

Mikkel Tørud, CFO
Tel: +47 976 99 144
mikkel.torud@scatecsolar.com

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 more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

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 the Norwegian Securities Trading Act