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Scatec Solar ASA: Third quarter results - solid operational results

Oslo, October 25, 2016: Consolidated revenues reached NOK 281 million, up from
202 million in the same period last year and up from NOK 213 million in the
previous quarter. EBITDA reached NOK 222 million, up from NOK 159 million
last year and up from NOK 153 million in the previous quarter.
Power production reached an historical high this quarter with 222 GWh, up from
183 GWh previous quarter and more than a doubling year on year. Seasonally
higher production in South Africa and production from new plants in Jordan
led to the higher production quarter on quarter. New 33 MW in Jordan reached
commercial operation in the quarter, increasing total operating capacity to
426 MW.

"We report solid results for the third quarter 2016 mainly driven by revenue
growth from production of new plants in Jordan and seasonally higher
production in South Africa. We continue to work systematically towards
financial close of our backlog projects and secure off take agreements for
projects in pipeline", says Scatec Solar's CEO, Raymond Carlsen.

Scatec Solar develops, builds, owns and operates large scale solar power
plants. Scatec Solar's proportionate share of cash flow to equity across
these business activities reached NOK 29 million in the third quarter 2016,
compared to NOK 37 million in the same period last year and NOK 31 million in
the previous quarter.

During the third quarter, Scatec Solar entered into an agreement to sell the
Utah Red Hills plant with expected gross proceeds of NOK 230 million.

The current project backlog stands at 422 MW, while project pipeline comprises
projects with a combined capacity of 1,126 MW, while the project
opportunities now hold a combined capacity of 2,358 MW across Americas,
Africa, Asia and Middle East.

For more details, please see attached the third quarter report and

A presentation of the results will be held today at 08.00 at Høyres Hus,
Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can also be
followed through a live webcast from our
For further information, please contact

Mr. Raymond Carlsen, CEO, tel: +47 454 11 280

Mr. Mikkel Tørud, CFO, tel: +47 976 99 144

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.

The company is producing electricity from 426 MW of solar power plants in the
Czech Republic, South Africa, Rwanda, Honduras, Jordan and the United States.

With an established global presence, the company is growing briskly with a
project backlog and pipeline of close to 1.5 GW under development in the
Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in
Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol

To learn more,

Q3 2016 Presentation
Q3 2016 Report


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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