New investors join Scatec Solar to develop the 100 MW Nova Scotia solar project in Nigeria

Abuja, Nigeria, December 19, 2016: Scatec Solar has signed a Joint Development
Agreement (JDA) with Africa50, an African Infrastructure Fund sponsored by the
African Development Bank and more than 20 African States and Norfund (the
Norwegian Investment Fund for Development Countries), securing investment into
the 100 MW (DC) Nova Scotia Power plant located in Dutse in the Northern
Nigerian state of Jigawa. The project has the potential to significantly
contribute to the plan of the authorities of the State of Jigawa to attract USD
2 billion of investments into Jigawa and implement Nigerian President Muhammadu
Buhari's plans to provide jobs and economic opportunities especially for the
nation's youth.

The signing ceremony of the JDA was held in the presence of Børge Brende, the
visiting Norwegian Foreign Minister, His Excellency, Barrister Ibrahim Hassan
Hadejia, Deputy Governor of Jigawa State, as well as officials from the Nigerian
Bulk Electricity Trading among others. "New local power generation capacity is a
key element to attract sizeable investment into the State and region, especially
into new industries such as light manufacturing and agricultural processing"
said His Excellency the Deputy Governor.

"The formation of this consortium is a strong symbol of the Norwegian and
Nigerian commitment to invest in clean energy in Nigeria. With the Government of
Norway taking a direct investment role through Norfund, significant regional and
Nigerian ownership through Africa50, and the track-record of Scatec Solar, this
offers one of the most solid partnerships for solar PV projects globally," said
Executive Vice President Terje Pilskog who signed the JDA on behalf of Scatec
Solar.

"I am pleased that Africa50 is already making its first investment, which fits
in squarely with our priority to light up and power Africa," said Dr. Akinwumi
Adesina, President of the African Development Bank (AfDB) and Chairman of
Africa50's Board of Directors. Africa50 has been created by African governments,
including Nigeria, the African Development Bank and institutional investors to
mobilize private sector for funding infrastructure projects in Africa. Alain
Ebobisse, Africa50's CEO noted: "Access to reliable energy is one of the most
critical needs in Africa, including in Nigeria, where it is a government
priority. I look forward to deepening the relationship with the authorities of
Nigeria, one of our key shareholder countries, and to supporting more projects
in this and other infrastructure sectors."

Apart from the three equity investors, the American Overseas Private Investment
Corporation (OPIC), Islamic Development Bank and the African Development Bank
are expected to be senior debt providers for the project. International Finance
institutions say the key to successful investment is the Nigerian state's issue
of project documents that provides necessary investor confidence and the
formulation of a clear roadmap to sustainability in the energy sector.

With an estimated investment of USD 150 million, a production of 200,000 MWh of
electricity per year and 120,000 tons of CO2 emissions avoided annually, the
Nova Scotia solar plant will help Nigeria rapidly increase its generation
capacity, provide economic opportunities, fight desertification caused by
climate change, and contribute to fulfilling Nigerian President Muhammadu
Buhari's commitments to develop renewable energy as part of the Paris Climate
Change Agreement.

In July, the Nova Scotia project signed a 20-year PPA with Nigerian Bulk
Electricity Trading (NBET). Located on 200 hectares of land, the project has
strong fundamentals with high solar resources and direct access to the
transmission grid through a simple connection route. The consortium will
continue to work with CDIL, a Canadian renewable energy development company
focused on Africa, and BPS, a Nigerian strategic consulting, to move the project
from "pipeline" and achieve financial close in 2017 and commercial operations in
2018.

Nigeria is Africa's largest and the world's 26(th) biggest economy. With
Nigeria's per capita electricity consumption at 155 kwh, one of the lowest in
the world, there is a huge need to increase power production in order to expand
and diversify the Nigerian economy.

For further information, please contact:

Mr. Mikkel Tørud, CFO             Tel: +4797699144
mikkel.torud@scatecsolar.com

Ms. Julie Hamre, Media            Tel: +4792020854
julie.hamre@scatecsolar.com


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 1.6 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
'SSO'.