Oslo, August 30, 2018: Scatec Solar
increases its ownership share in Kalkbult, Linde and Dreunberg in
South Africa from 39% to 45%. Scatec Solar and STANLIB Private
Equity Infrastructure Fund 1, both existing shareholders, are
purchasing all of Norfund's 21 % shares in the solar plant
Kalkbult, and KLP Norfund's 16% shares in Linde and Dreunberg.
Scatec Solar acquires 33% of the shares, and the South African
infrastructure investment fund, STANLIB, acquires the balance of
the shares. The total capacity of the plants is 190 MW.
"South Africa continues to be an important market
for Scatec Solar and with the construction of the Upington plants
we will have solid position with a production capacity of 448 MW in
the country. This investment allows us to secure further solid
returns from a well-performing asset portfolio and contributes to
strengthening our portfolio approach to the South Africa market",
says Raymond Carlsen, CEO of Scatec Solar.
The parties have agreed not to disclose the value
of the transaction.
Final closing of the transaction is pending
approval from the South African Competition Commission Authorities
and is expected to take place during the fourth quarter
2018.
For further information, please
contact:
Mr. Mikkel Tørud, CFO Tel: +47 976
99 144
Email: 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.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
