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2016-04-13

Scatec Solar ASA: Norwegian government buys carbon credits from Scatec Solar

Oslo, April 13, 2016: Norway's Climate and Environment Ministry has signed an
agreement to buy UN-certified carbon credits from three of Scatec Solar's
power plants in West Africa. About 330,000 tons of CO2 emissions will be
avoided from these solar plants during a three-year period ending 2020. The
Purchase Agreement for the Certified Emission Reduction (CER) includes an
option to extend the contract thereafter.

"Carbon offsets ensures that sustainable projects are implemented with the
lowest possible risk. This contributes to the growth of solar energy in
developing countries, which in turn allows for better and more stable energy
and lower greenhouse gas emissions," says Climate and Environment Minister
Vidar Helgesen.

The Agreement marks a major milestone in the implementation of Scatec Solar's
global carbon strategy that aims to stimulate carbon and climate finance to
accelerate deployment of solar power in the countries most in need of it.

Scatec Solar develops, builds, owns and operates solar PV plants in emerging
markets, focusing on projects that meet the high sustainability criteria set
by the UN's Clean Development Mechanism (CDM). "As a partner for climate
action, Scatec Solar attaches great importance to this because we believe the
United Nations mechanisms provide the highest level of environmental
integrity available in the marketplace," says Terje Osmundsen, Scatec Solar's
Vice President for Business Development.

The first three West African projects to be included in the agreement are
being developed by Scatec Solar in Mali, Burkina Faso and Ghana, says
Minister Helgesen. "This region is struggling with major energy shortage,
large populations without access to electricity, dependence on fossil fuels
and high energy costs." The carbon credit agreement will lower the capital
cost risks for clean and sustainable projects. This in turn will contribute
to the growth of solar plants in these sun-rich countries, enable local
utilities to improve grid networks and generate more solar electricity to
fuel development and improve people's lives.

Carbon credits are valid for Scatec Solar's UN-compliant projects in other
developing countries as well. "Over half of all developing countries stated
that they wish to continue using the CDM to help deliver national climate
change plans submitted for the Paris talks last year" says Daniel Rossetto,
Managing Director of Climate Mundial, Scatec Solar's carbon&climate finance
advisor. "Scatec Solar's carbon program therefore positions it to make a very
important contribution to countries' climate ambitions both before and beyond
2020".

About 600,000 tons of carbon emissions will be avoided in 2016 from Scatec
Solar's power plants operating in South Africa, Rwanda, Czech Republic, the
United States and Honduras. This is set to increase to 2 million tons by the
end of 2018 with the commissioning of several more solar plants.

Link topress releaseby the Climate and Environment Ministry (in Norwegian)

Link tointerviewwith Terje Osmundsen (Scatec Solar) by Sysla: "Norsk kvotekjøp
i Afrika har stor symbolverdi» (in Norwegian)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scatec Solar ASA via Globenewswire

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