Scatec starts commercial operation of another 32 MW in Ukraine

Oslo, 30 December 2020: Scatec and partner FMO, the Dutch entrepreneurial development bank, have grid connected the 32 MW Kamianka project in the Cherkasy region, Ukraine and will start commercial operations from 1 January 2021.

"We are pleased to complete our third project in Ukraine. The Kamianka solar power plant will lead to the abatement of more than 15,000 tonnes of CO² emissions, and will contribute to growing the share of renewable energy in the country", says Raymond Carlsen, CEO of Scatec.

The project is realised under Ukraine's Feed-in-Tariff scheme. The Kamianka solar plant is expected to deliver about 37 GWh per year and will be providing clean energy to more than 11,000 households. Public land has been leased for an extended time-period and the plant is expected to deliver power also beyond the Feed-in-tariff period.

Scatec now has almost 1.6 GW in operation globally. In addition, a portfolio of 320 MW is under construction, of which 203 MW in Ukraine.

For further information, please contact:

Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364
email: ingrid.aarsnes@scatec.com

About Scatec ASA
Scatec is an integrated independent renewable power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long-term player, Scatec develops, builds, owns, operates and maintains power plants and has an installation track record of more than 1.6 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 is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatec.com.

About FMO
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 10.4 billion spanning over 80 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information: please visit www.fmo.nl

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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