Scatec Solar awarded projects totaling 360 MW in Tunisia

Oslo, 17 December 2019: Scatec Solar has been awarded three solar power plant projects in Tunisia totaling approximately 360 MW, following an international tender launched by the Tunisian Ministry of Industry and SMEs earlier this year.

“We are excited to secure our first projects in Tunisia, supporting the Government’s target to reach 30% electricity production from renewables by 2030. We have solid experience from successful development, execution and operation of projects in Africa and the Middle East over the last years that we bring with us as we enter this new market”, says Raymond Carlsen, CEO of Scatec Solar.

The three projects of approximately 60 MW, 60 MW and 240 MW will be located in Tozeur, Sidi Bouzid and Tataouine respectively. The solar power plants will hold 20 years of PPAs with Société Tunisienne de l’Electricité et du Gaz (STEG). The solar plants are expected to generate about 830 GWh per year, enough electricity to power more than 300,000 Tunisian households annually and contributing to avoid 480,000 tonnes of CO2 emissions each year.

Scatec Solar will be the lead equity investor in the projects. The company will also be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plants.

Since the end of 2016, the Tunisian government has embarked on the implementation of its programme for development of electricity production from renewables. In this framework the Ministry of Industry and SMEs launched an international tender for solar PV projects in 2019.

For further information, please contact:
Mikkel Tørud, CFO
tel: +47 976 99 144
mikkel.torud@scatecsolar.com

Ingrid Aarsnes, Communication & IR
tel: +47 950 38 364
ingrid.aarsnes@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 1.3 GW. The company has a total of 1.9 GW in operation and under construction on four continents.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 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