Oslo, July 4, 2018: Scatec Solar has entered into agreements with Rengy Development securing projects with capacity of 47 MW in the Mykolaiv region in the south of Ukraine.

The projects will be realized under the country's Feed-in-Tariff scheme and the three plants are expected to produce about 58 GWh per year. Public land will be leased for an extended time-period and the plants are expected to deliver power also beyond the 10-year Feed-in-tariff period.

Rengy Development is one of the largest developers and independent solar power producers in Ukraine. It was established in 2009 and has to date developed, built and commissioned a 70 MW portfolio of solar power plants in Ukraine.

Total capex for the projects is estimated to Euro 52 million. The project finance process has been initiated with the European Bank of Reconstruction and Development (EBRD) in lead. Financial close and construction start is expected later in 2018 with commercial operation during 2019.

"We are very happy to partner with a strong local player as Rengy Development to further strengthen our position in Ukraine. Rengy Development brings a solid track record in solar in Ukraine to the project ensuring efficient realization. We see continued strong commitment by the Ukrainian government to secure growth of clean energy in the country", says CEO Raymond Carlsen who signed the agreement and visited Kiev this week.

Scatec Solar will own 51% of the projects and Rengy Development will own the balance. Scatec Solar will be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plants.

With this agreement Scatec Solar has so far secured 130 MW of projects under the Feed-in-Tariff scheme in Ukraine.

For further information, please contact:

Mr. 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 1,000 MW.

The company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and has 1,092 MW under construction. 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



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Source: Scatec Solar ASA via Globenewswire
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