Scatec Solar reaches commercial operation for its fourth 65 MW power plant in Egypt

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Oslo, 19 August 2019: Scatec Solar and partners have grid connected and reached commercial operation for another 65 MW of the 390 MW Benban project in Egypt. Scatec Solar now has 260 MW in operation in Egypt and expects to have completed the remaining two plants out of six over the next couple of months.

The Benban solar power plant will be Scatec Solar’s largest project in operation and is the company’s first solar plant with bi-facial solar panels, capturing the sun from both sides of the panels to increase the total clean energy generation.

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 390 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 annually and provide energy for more than 420,000 Egyptian households.

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 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 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

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