Scatec Solar ASA: Long Term Incentive Programme

Oslo, January 3, 2018: In line with the terms adopted by the annual general meeting of Scatec Solar ASA in 2017, the Board of Directors continues to implement the option program for leading employees of the company.

Yesterday a total of 459,099 options were granted to leading employees, including the following primary insiders: CEO Raymond Carlsen 76,098, CFO Mikkel Tørud 55,831, EVP Terje Pilskog 48,601, EVP Torstein Berntsen 46,090, EVP Roar Haugland 43,579, and EVP Snorre Valdimarsson 43,579.

Each share option gives the right to subscribe for and be allotted one share in Scatec Solar ASA. The strike price of the options is set to NOK 48.43 per share based on the volume weighted average share price over the last 10 trading days preceding the grant date of January 2, 2018. The options will lapse if not exercised by 1 January 2023. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranch vesting January 1, 2019. The current grant is the second of three contemplated annual grants of options in accordance with the Scatec Solar share based incentive program. 

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.