Scatec Solar’s first solar plant in Brazil in commercial operation

Oslo, 28 November 2018: Scatec Solar is together with partners Equinor and Apodi Par pleased to announce that the 162 MW Apodi Solar plant is grid connected and in commercial operation.

“We have successfully realized our first solar power plant in Brazil and yet again confirming our strong track record as an independent solar power producer. We see significant potential for further growth in Brazil and other parts of Latin America, and we will soon start construction of a new 117 MW solar plant in Argentina in partnership with Equinor”, says Raymond Carlsen, CEO of Scatec Solar.  

“This is a strategic milestone for Equinor. Apodi was our first step into the solar industry. With the plant now in operations and through our excellent collaboration with Scatec Solar, we are complementing Equinor’s portfolio with profitable solar energy. Apodi adds to our portfolio in Brazil, a core area for the company. This also shows that we are well underway on our journey to become a broad energy company turning natural resources into energy for people and progress for society", says Pål Eitrheim, EVP of New Energy Solutions in Equinor.

The Apodi Solar project was awarded in the auction process held by ANEEL, the Brazilian Electricity Regulatory Agency, in November 2015. Apodi Solar holds a 20-year Power Purchase Agreement (PPA) with CCEE, the Brazilian Power Commercialization Chamber. The plant is located in the state of Ceará, Brazil and is expected to provide about 340,000 MWh of electricity per year, providing energy for more than 170,000 households. The clean energy produced by the Apodi Solar plant is equivalent to a CO2 reduction of around 200,000 tons per annum.

In October 2017, Scatec Solar established a 50/50 Joint Venture (JV) with Equinor to build, own and operate large scale solar plants in Brazil. The JV is responsible for operation and maintenance as well as asset management of the solar plant.

The Apodi Solar plant is owned 43.75 percent by Scatec Solar, 43.75 percent by Equinor and 12.5 percent by the holding company Apodi Participações formed by the Brazilian companies Z2 Power, Pacto Energia and Kroma Energia.

Scatec Solar now holds 519 MW of solar power plants in operation, 895 MW under construction and about 4.5 GW in project backlog and pipeline.  

For further information, please contact:

Mr. 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 1,000 MW. The company is producing electricity from 519 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras, Brazil and Jordan and has 895 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.

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